I came back from my honey-week at Grand Bahama Island. Me and my wife stayed at Sheraton hotel on Lucaya Beach. The hotel was nice. The people were very nice and friendly all around the island. The weather was wonderful. We did a lot of snorkeling over the corals. We saw a hawksbeak turtle, squids, barracudas and many other fish. Diving through blue holes was fun, even though we were allowed to do it only in inactive blue holes. We also enjoyed looking at other wildlife, such as birds, crabs, and lizards.
We can recommend visiting Zorba a Greek restaurant in the Market Place. The food was good and lunch prices were very affordable. Trying fresh conch salad is a must, though!
I would recommend visiting Grand Bahama Island for a week, we did most of all available tours that they offer. We found all the required information about tours, food, and maps in What-to-do magazine that is freely available everywhere on the island.