I have stayed at FA twice. The last time was August, 2011. I really like the place, but it may not be honeymoon caliber. My trips were short (3 nights each), so the food never got old and I really liked it. The snorkeling is pretty good (and a quarter mile north at the Money Bar), but it still had not really recovered from the hurricane. There is a nice sand area at the beach with a very small walk in access, but otherwise the shore is rocky and inaccessible other than off the pier and up the ladder. The onsite SCUBA operator (Dive House) is okay, but sort of a cattle boat operation with relatively short dives and surface intervals floating in the ocean (head on board). Their dive masters were very personable and did fine leading the dives. I used them for my morning dives and had another operator (now Opal's Dream) pick me up for afternoon dives (too much diving for a honeymoon) and I preferred Opal's Dream's style of diving (fast boat, 6 divers max, surface interval at a beach club).
FA is a mix between the 2 Cozumel extremes: (1) places in or near town (and the dining, hustle and bustle that goes along with that) with no beach, possibly decent shore snorkeling and long boat rides to the dive sites; and (2) resorts down south that are a long way from town but with sandy beaches (and therefore, bad snorkeling) and a short boat ride to the dive sites, often with surface intervals back at the resort. FA is in between, although a little closer to town than the southern resorts. The boat ride to the southern reefs is a little shorter and the snorkeling is decent. For a honeymoon where diving is a must, I would check out the resorts to the south (Occidental Grand, Allegro, Iberostar, a few others). If it is in the budget (insurance is the main expense and necessary), a rental car gives you great freedom to go into town and explore the east side of the island--definitely do this at least one day.
If diving is not essential and can wait until after the honeymoon, I highly recommend the Couples resorts in Jamaica. They have SCUBA, but it is very disappointing compared to Cozumel. Although, if you have not dived the Caribbean, it would seem okay and you would be at an awesome resort and your next SCUBA trip to a better location would blow you away by comparison.
---------- Post added February 12th, 2013 at 10:43 AM ----------
Check out this site for dive packages to FA and a few other resorts and hotels.
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