We've been staying there for the last 5 years with never a problem. It's mid-priced, nice but not fancy, and perfect for divers. The staff is very good and have all been there for ages...very low turnover, so we see the same folks year after year. Our preferred rooms are the ones on the bottom floor in the original section, rooms 18 thru 21. Open your patio doors and the dock is just 20-30 steps away!
They have 2 restaraunts that are both very good and reasonably priced. 2 Pools and a huge bar-side jacuzzi. Located 2 miles south of San Miguel, you are out of the mainstream of touristy traffic but only a 10 minute/$3 cab ride to town. One of the cruise ship piers is just next door but except for looking at the ugly things, they aren't a problem. Most of the cruisers hit the many cabs that are lined up and go to town, leaving LaCeiba alone.
The plane wreck in front of the hotel is one of the best shore dives on the island, you'll see everything right there. It's also easy to snorkel too.
Del Mar Aquatics (DMA), the house dive op, is right there at the dock. If you're staying at LaCeiba or their sister hotel Casa Del Mar, your shore tanks are free. Otherwise they are $5 each.
DMA is a very safety conscience dive op, their DM's are also Instructors and several are studying Marine Biology. Gustavo Maldanado, General Manager of DMA, runs a very tight ship. If you have any problems, at all, he will deal with them immediately. You can't beat them for safety and trying to please. I use DMA for diving occasionally but I don't care for their boats.
They have one large boat, Big Splash, that holds 30 divers. It's nice if you have a large group and want to stay together. There are 3, I think, that are a bit smaller, holding about 15 divers, and these are the ones they use the most. I don't care for their boats for several resons... one, the tanks are held in the middle of the boat, below deck level. To get into your gear, you either have to wait for a DM to help retrieve your tank and gear from the 'pit' or you have to stand and wrestle it into place yourself. All the while, others are doing the same and stepping on gauges and regs that have fallen onto the deck. These mid-size boats also don't have a ladder, just a swim platform, so you do a deep water exit to get back on the boat. For folks with back and/or knee trouble, this isn't fun. DMA has a couple of small 8-pak boats but I don't see them used very much.
My preferred dive op is Caballito del Caribe...
http://www.seahorsecozumel.com/
HTH