Hi Just noticed this thread so I will contribute what I do know. Penghu diving is certainly seasonal and that season is late March to the end of June. The rest of the year it is too windy or the sea state in too bad. There is some decent diving around the islands but I would not say that it is any better than say Green island. It is sadly, like most places in Taiwan, fished out if you were to compare it with a protected marine sanctuary such as Layand Layang . In addition there are only 2 dive shops there in Makung. The shops are not very professional and they cater to mainly spear fishermen from mainland Taiwan. The best diving in the Penghu group is undoubtable Dung Ji Island which is midway in the channel. Again a lot of spearfishermen go there. It is difficult to get to Dung Ji even in the season I tried for 3 years before I finally made it over there, using a private boat out of Tainan. The diving was pretty good, grouper, parrotfish, Napoleon wrasse, turtles, large schools of Moorish idols and Fusiliers. There are lots of wrecks in the Taiwan Straits in fact it probably has the most undived wrecks in Asia. This because most if not all of the wrecks are off limits and the property on the Taiwan govt and guarded by the Navy and coastguard. I worked for the Taiwan Navy for a while back in the early 90's on minehunters and we used sidescan sonar to do search runs. We found lots of wrecks.
if you have any questions I will be happy to help if I can.
if you have any questions I will be happy to help if I can.