Stayed here in 2002 for a week in May. Absolutely beautiful property, right on the ocean. Did quite a bit of snorkeling on-site with large varitety of fish. Within a longish walk to town, which we did on several occasions, but it's easy to get a taxi as well.
Condo was extremely clean and well-kept, everything you could need.
Used the local cook (Breakfast and Dinner) for 2 days and highly recommend it. Rented a brand new VW Beetle (in Mexico this is the old air-cooled variety) which was a great way to see the island. Did the Tarzan Tour, highly recommended.
Would not consider staying anywhere else on Cozumel.
