Definitely depends on your taste...I have been going to PV since the 70s and it certainly has changed! I prefer the taste of Mexico and like the older hotels...which are fewer to find since these to are being remodeled to sliding glass doors and air conditioning.
Some of the in town places can be noisy because of traffic.....but then the large hotels can be noisy because of partiers and bars...
so either way..... Just decide what your preference is....do you want to go and stay at a place and eat where ever you like??? or do you want an all inclusive and let them take care of the meals???? It is all a matter of taste.