I just got back from a week in Cabo San Lucas and we had the most amazing time. We're already planning a quick 4 day trip back in October.
It was super cheap to get there and stay there. Food and drinks were normal U.S. Big City prices, but it was still a great deal. We stayed at the Hacienda Beach Resort--best location in Cabo--close to the beach bars for Happy Hour, close to the Marina for dinner--close to donwtown for partying. And HAcienda has a private beach (with waiters walking up and down to bring you margaritas and food) and a great pool. I totally recommend staying there!
best night spot is by far El Squid Roe. Giggling Marlin and Cabo Wabo good too but not nearly as fun as Squid.
Amy