I would class this as one of the better bargains on Ambergris Cay. Luis was a great host, and we could just walk up the beach to pretty much anywhere we wanted to go. There were a couple grocery stores just about a block away where you could get almost anything you want to cook, with a good fruit and vegetable stand just a little ways past them (south of Hummingbird). So you can cook for yourself, eat better, and save a lot of money (food's not cheap on San Pedro though, but cooking for yourself is still a great option).
If you're unfamiliar with Ambergris Cay, there are many dive shops that have trips out to the reef, primarily the two marine reserve areas of Hol Chan and Mexican Rocks. Cost is about $40-50 US, and worth it. If you just want to get out to the reef by yourself to dive wherever you want, it's close enough to San Pedro to do so especially if it's not too windy. The reef is only about 1-4-1/2 mile offshore. You can rent a 2-person kayak for about $25USD for half a day, which is a lot of time in the water. We found one shop that would include an anchor, which is necessary if you're diving in places without mooring buoys, as we did sometimes. That place was called X Site, and it was about a mile north of Hummingbird. It's one of the dive shops on the waterfront. None of the others had an anchor available.
As to Hummingbird, we were on the 3rd floor and the only negative at all was the barking dogs across the street. This is a pretty common factor anywhere so I would just suggest always bringing good earplugs if you plan to sleep in a bit. They weren't barking at night so it really wasn't much of an issue.
We met a lot of people staying at various places in the San Pedro area, and we feel like Hummingbird was the best deal hands down.