Yes, we have been twice...LOVED it! Media Luna is one of the finest resorts I have ever been to.
The one thing I will tell you is that the location is fairly isolated on the southeastern part of the island of Roatan. For me, that is just perfect. I have been to Roatan numerous times before, so by this time I was not interested in anything but scuba diving and relaxing. In pursuit of those interests, I could not have asked for more.
But I do realize that others have different preferences. I would suggest that renting a car and driving yourself is not the best idea in Roatan, and taxi's all the way to and from Media Luna to the tourist areas would be expensive; however, Media Luna does offer a host of tours in addition to an onsite spa and activities.
Aqua Adventures is the on-site dive operator. They commonly offer 3 dives per day, 1 night dive per week and unlimited shore diving. I am very impressed by how hard the owners work to make sure the divers enjoy their scuba adventures. They have hired Derry, whom we have known for years since he used to be a divemaster at Fantasy Island. He is very talented at finding interesting critters for you to see...we call him the "Seahorse Whisper"

In addition, the house reef, where you can do all the shore diving you'd like, is Half-Moon Bay. I could be happy just diving there...it's phenomenal!
I would recommend Media Luna without hesitation...it's paradise :cool2: