I live here in subic bay
Now let me be honest so no one will waste there money coming to Subic Bay.
The freeport SBMA (Subic Bay Marine Authority) has a few restaurants, but it is so overpriced it is like US prices in the Philippines.
Also if you are a tourist, you have to catch a taxi there because trikes and jeepneys are not permitted on the base. So if you just go to eat you have to pay 400 peso, which is US8.50 just to get to the restaurants.
To break it down you have to pay 17 US dollar just to get to SBMA, then you have to pay US prices for food, so after you are done eating you would have been better off just staying and eating in the US.
Everything here is overpriced and only geared to get as much money from foreigners, so if you do come here and you do not mind paying the over exaggerated prices, be careful.
There are not a huge amount of things to do, you have bars, restaurants, lots of diving, Zoobic and Oceanworld, not a whole lot of options I would highly recommend Boracay, it is high priced also, but you actually get 5 star service wheres here in Subic you get two star service for 5 star prices.