Lab-as is most likely the best seafood restaurant in town at the moment. You can choose right from their tanks which Lobster/Crab/Oysters end up on your plate. If you go for Squid or Fish they usually present it first on a plate and ask you if you like it.
Lab-as and Hayahay are under one management and have one menu together. So you can sit at Hayahay and enjoy the Lab-as dishes while listening to live-acts. They have since one month or so a new menu and some prices went up quite a bit but it is still good value and quality for the peso.
cheers
Rhoody