...except the wi-fi. I really can't say enough good things about this resort - most of the details have been covered by other reviewers below.
We stayed here 7 night on a family vacation (with 2 kids). It was just perfect. The beach in front is great for everything from snorkeling to lounging around and reading quietly. The kids loved the inflatable in front of the beach that they could swim to and climb on. (For the record this is not some overrun-with-kids resort - it's just that kids are welcomed and there are sufficient activities for them).
Plenty of activities all around, from boat snorkeling trips to the manta ray swim to coconut demonstrations, hiking, etc.
The staff is very friendly and helpful. They are on a compulsory food program, and the food was really excellent overall - breakfast, lunch, and dinner. Just very good overall.
The dive shop is great and I went through my certification there - excellent instructors.
I have to agree that even though this and Blue Lagoon are partners, Paradise Cove seems to be managed better. For example, little things like the round Fiji-style welcome rugs being new and bright here, while at Blue Lagoon they look like they have seen better days. There are more lounge chairs here for people to use, etc.
We stayed in a "Paradise Garden Bungalow" and it was very nice. Yes, a short walk to the beach, but new, with air conditioning, and an outdoor shower, and a porch/veranda, and plenty roomy and very clean.
The only downside is the non-existent wi-fi. They shouldn't even advertise as having it since it's only good for occasional email coming in at random times.
Overall, we all really loved it. Very calm, just gorgeous, quite a wonderful place to relax and enjoy the Yasawas. Special shout-out to all the great staff - thank you!