We personally found Caye Caulker to be quite boring - need no more than a 2 night stay. However I did hear a few Tourists say they loved it. - cancelling San Pedro to return. Everyone has different taste.
With that said, China's place was the perfect location - central to everything. No need to take cab from dock and pay $5, just turn right and walk 5 short blocks. China was very willing to assist us with whatever was needed - arraigned our transport - which was quite helpful. Other than that we didn't need anything - just did our own thing. The room was very basic - but for the location and price, couldn't ask for more. Oh, if traveling to Ambergris Caye- get a coupon - it will save you $10 US per person.