Cebu Pacific are an excellent airline, new fleet, good standards and well trained crew. Onboard procedures are better then PAL and I would always recommend them as an airline. The cabin crew, despite playing onboard games and having fun, have always done very thorough checks and seem to know the technicalities of the job. The company has a lot of Western Ex-Pat Training Captains who have made a big difference to the procedures. They have a good safety history.

They run a low cost airline model, therefore do not have redundant aircraft on the ground. There is a delay or technical problem, then this has a knock on effect with the following flights either being delayed or cancelled. They do not have the same compensation procedures as in Europe. If you are delayed with them, you can expect a Jollibee (seriously), and to get to your destination eventually, or they will put you in an acceptable standard hotel if your downroute.
One of our experiences with Cebu Pacific was in Hong Kong where we had a midnight flight back to Cebu, we're checked in by handling agent staff (i.e. non cebu pacific staff), and then went through to departures. The flight time came and went, and nobody appeared at the gate. After an hour of delay, I called the Handling Agent who advised us that they have no information on the flight until it arrives in Hong Kong airspace as they have no direct communication channel (most airports in the world are linked into an international database). The aircraft arrived 4 hours late, we boarded, they apologised and we arrived in Cebu 4 hours late.

This is acceptable practice for them, and it would never deter me from flying with them, because the cost of return flights for a weekend in Hong Kong from Cebu/Manila are excellent, and the delays don't bother me.

If you want full service, and certain garauntees, fly with Cathay Pacific.