Hi
Second all the above, I DIY safari-ed through the Visayas summer 2003 for 3 weeks and dove in Moalboal, Apo Island, Siguijor, Bohol (Alona Beach), Southern Leyte and Malapascua / Gato (I am restless).
Of these places, I would recommend Moalboal and Bohol to anyone straightaway. I think that Pescador Island off Moalboal is just amazing, with the white tips at great depth and very cool macro stuff all over the wall. The truly lucky see hammerheads there in winter, or so I understand from Jesper (
www.neptunediving.com). Moalboal is a great place, exclusively divers and really cosy albeit a bit "shabby" - wouldn't go there with the wife (for that Alona Beach was invented). Bohol has nice diving, walls at Balicasag and immediately before the beach - the pygmy seahorse has been spotted there.
Southern Leyte is good for whalesharks in Feb/Mar/Apr but desolate and far away - take you a day to get there from Cebu by ferry / bus (
www.leyte-divers.com). Because it so remote few people go there which is not as good as it sounds as it means that local operations are tiny and you may have difficulty diving the places you want. If you travel alone be prepared for solitude.
Siguijor is fun but more of honeymoon place on a shoestring, diving is so-so.
Malapascua is nice for the treshers, nearby Gato for the whitetips and funky stuff around. Small guys though these sharkies, the ones at Moalboal are the bigger cousins.
Wherever you go, the Visayas are a delight. Friendly people, great diving, ridiculous prices. Enjoy!
Arjan