The disadvantage is that you have to drive 2hrs (? sorry, can't remember exactly) south of Manila to get the boat across. I stayed at Coco Beach Resort, which was pretty good, but there are many cheaper alternatives if you are on a budget. It is popular with filipinos, so there are many places that are cheap, but reasonable if you don't mind mixing it with the locals.

Look around at resorts that are only a short flight away also - flights can be very cheap and many resorts will pick you up from the airport for a reasonable price. A flight to Boracay will probably get you in a room quicker than to Peurto Galera

This site gives some good info:
http://www.puertogaleraboard.com/