Hiya Nick
I was in Sipadan (Kapalai) a couple of weeks ago. Kapalai basically have a permit to allow everyone staying there to do 2 dives a day on Sipadan. (actually it's a lot lot less than that, but in practise that's what you get).
The diving at times was simply stunning. On one dive on South Point I think we saw something like 40 turtles, 20 sharks (white tip, black tip, grey reef), bumphead parrotfish and lots lots more. I was literally like a kid in a sweet shop who didn't know where to turn next!
We went onto the Philippines after that which was great, but after being in Sipadan it was a bit of an anti-climax!
I've not watched the vid yet fdog - still downloading it now 
Cheers, Simon