IMO, it does not make sense to pay for guided shore dives when one could go boat diving for near the same price. The boat (wall) diving is much better than even the best shallow shore dive.
Night diving is a different issue. It's equivalent shore and boat based.
Grand Cayman's deep walls are a great dive, and what Cayman diving is famous for!
However I would like to put this comment in a bit more perspective as shore diving on Grand Cayman can be very good, and certainly has it's place in a diving trip to the island.
Shore diving is very dependent where you are on the island. In the Seven Mile Beach area you'll find that the reef wall (both the shallow 'mini wall' and the deep wall) are quite a swim out, and can basically only be done as a boat dive. However, as you go north from Seven Mile Beach you'll find that reef wall starts hugging the coastline, and you have access to the same beautiful reef but just a 5 minute swim from shore.
We find that shore diving is a very popular choice with divers who don't like boat rides, want to dive on their own schedule, want to extend their dive times beyond the hour usually possible on the boats, or take it slower for some photography.
Also on the deep wall dives, a free descent (or along a mooring line) to 60-70 feet is needed to get to the top of the reef, and for new divers or those who have been out of the water for while that might be a bit challenging. A few shore dives, where you can descend gradually following the bottom contour, can be a great start to diving on the island.
For full disclosure, I work at Divetech on the island. We offer both boat and shore diving, so I just want to add some broader perspective to this discussion from my experience with both. Our Lighthouse Point Reef was voted one of the 10 best shore dives in the world (we occasionally have boats from fellow island dive shops dropping in divers for a boat dive!), but from personal experience I would certainly recommend to do the shore dive at Macabuca/Cracked Conch too. The other shore dives on the island are great too, but haven't had the chance to try (yet!)....
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