Bus is cheaper, taxi is faster. Do you want to spend 1/2 day on the bus or on the beach? I learned VERY quickly that hiring a car and driver outside the resort gates costs half or less than one on the hotel grounds, (I got cheated on my first day). Remember to offer half of what they say it costs or you'll spoil it for the rest of us. If they say no, start to walk away to the next driver. You'll be surprised how fast half is acceptable. (and that's double what the locals pay for a ride so the driver is more than willing to take you). I was paying 1000 pesos for the whole day, fuel included. Just make sure the driver speaks a little english and never pay them anything until they drop you off back at the end of the day. Make SURE they agree to this BEFORE you get in the car! Otherwise you may be left stranded or looking for a return taxi. For those 1000 pesos I went to the Castillo de la Isabella way past Luperon for the day, sat several hours enjoying beers with the locals (the driver stayed sober) and returned about 6pm. No problem and I could stop for a photo wherever I wanted.
I also met some good local friends in the drivers. 99% of them are great, just trying to make a living. And if you could get paid double for your work, wouldn't you?
Have fun!!