Hi Susan!
My family stayed at Los Arcos Suites in November 2002. We normally stay at our timeshare (Sheraton Buganvilias) but it is being renovated from the hurricane. So it was our first time staying in old Vallarta and we loved it. We liked the Suites because it was quiet and a VERY short walk to the beach and the other shared hotel facilities. The staff is extremely nice. The hotel is older but the rooms and common areas are very clean. It was great to be able to walk to the restaurants for dinner and then be a short walk home. If you stay at the Suites, ask for a room overlooking the pool. The street balconies may be a little noisy...but it is a dead end street anyway. We liked it so well we are staying there again in March (our timeshare is under work until May). Enjoy your vacation!