Tobacco Caye is great. We have stayed there a couple times. Once at Reefs End Lodge and one time at Ocean's Edge. Liked them both and both are pictured in that website offered by Gaz.
The caye is small and intimate. The people are the greatest.
We only snorkel, but watched as the divers prepared for their many trips out. They all stayed at the resort we were at, Oceans Edge and what wonderful conversation was to be found, at dinner. They were totally satisfied.
We also spent time talking with Mark and enjoying a refreshment at his Palapa.
We go there for R&R, snorkeling and you can walk to the reef in 5 minutes ! Truly an amazing place.
If top of the end luxury, in a resort, is what you are looking for, look elsewhere. Tobacco Caye is a vacation awaiting a bed at night.