Wigstheone, thanks for the Four Season's info. What I've read supports your info about the snorkeling on-site. But the Island Explorer yacht can take you to all of the very best snorkeling places, so its not a concern for us.
Our concern right now for Maldives is weather. We'd end up going in December and the weather is not guaranteed. I can't imagine snorkeling in rain or clouds for any length of time.