John,
I haven't dived at Pulmo or with that outfit (avoiding the "club scene" that seems associated with anything "cabo" even though pulmo is up the coast), but I have dived from LaPaz for 2 trips (clubcantamar.com) and figured I'd share some of my transport experiences there. They are about 15 miles from LaPaz airport, about 8 from LaPaz itself. They have an arrangement with a local shuttle company who will pick you up from the airport and get you back there for your flight. That ride is included in their package prices. They also have a daily shuttle into town, the catch being that the return shuttle misses dinner at the hotel - so if you catch the free ride to town you buy your own dinner. Seems fair. I would guess you can make similar arrangements from Cabo. We found that the very limited use of a car we would have liked was easily taken care of by these shuttles. At Cantamar we did 3-tank days, boats leaving at 8.30 and not getting back until 4.30 or later (some long rides) and we dived 7 days straight. This trip, after washing gear etc we really didn't have much interest in trekking into town to rubberneck or party, so a car would have been a waste. At New year I had driven down there, so we did head into town and a couple of people had subsequent bad hair days resulting from un poco mas tequila and late nights :-)
I have heard good things about the pulmo reef, but while I have been at Cantamar they have taken several groups of clients from Pulmo (complete with pulmo guide) on LaPaz-based trips - the "dogma" is that if you want to see "big animals" you need to get up to LaPaz. Last New year this was correct, we swam with very playful sealions and saw mantas and hammerheads (albeit at a distance). Oct is "peak" for this, with a good change of other big stuff like whale sharks. We tried to catch the very start of the season in July this year and got cold water and crappy vis! You get what you get. In any event, if you get a chance at a day trip to LaPaz from Cabo, I'd recommend it -- El Bajo is a 100' more advanced site for seeing hammerheads, LaReina and Punta Lobos seem to be the sites for Mantas, and Los Islotes is the sealion colony. (The Cantamar folks, Fernando and Benjamin in particular, speak good English, so a phone call for conditions and venues is easy). Some pics from my trip - my first with the digital rig - can be found on Yahoo at (and I'll probably mess up the link but the address is correct)
[url=http://photos.yahoo.com/bc/scubalien2001/]http://photos.yahoo.com/bc/scubalien2001/
Have a great trip and let us know how it goes.
Bob.