I've done the trip three times, each a bit differently.
First time was with CUBAR, but we were on a Nordhavn 40 and couldn't keep up with the fleet, so we made some different stops. We did a long day-run from Ensenada to San Quintin, then a three night run from San Quintin to Mag Bay. Then a one night run from Mag Bay to Cabo. San Quintin was rolly but tolerable.
Second time was on a brand-new Nordhavn 60 and the owners didn't really like running overnight, so we stopped at lots of roadsteads. We had an overnight from San Quintin to Cedros. Cedros was a highlight...we spent a couple days there, anchored first at the north end, then towards town. Super calm water made it comfortable and walking around town and getting lunch made it memorable. I've heard you can clear in/out of Mexico at Cedros, though haven't tried it myself.
From Cedros we did a short run to Turtle Bay. Turtle Bay is a nice stop for a day or two and the best anchorage in the area. Still gets some swell, but in the usual weather it's nice. A few tiendas and restaurants.
From Turtle Bay we did a day trip to Punta Abreojos. This is an open roadstead. Frankly, I slept worse on the rolling boat than I would have if we were underway. We never got to shore...just a quick overnight.
Then we stopped at San Juanico. Same experience as Punta Abreojos.
Next stop was Santa Maria. Santa Maria is awesome, I like it better than Mag Bay in settled weather. The beach is nicer and the cell signal is stronger, although the cell signal doesn't matter with Starlink.
We spent a few days in Santa Maria, then moved to Mag Bay. Great shelter and since our visit coincided with the Baja Haha, a big party on shore.
I've never stopped anywhere between Mag Bay and Cabo. It's a 24 hour run at trawler speed.
Last year when I took my own boat down, we did Ensenada to Turtle Bay, Turtle Bay to Santa Maria, and Santa Maria to Cabo. We had great weather and two people aboard and the boat is way more comfortable moving and stabilized than it is in the roadsteads like Abreojos and Santa Maria.
Even our day trips often began or ended in the dark. We were always nervous entering/exiting anchorages in the dark because the locals have very poorly marked fishing gear. Think an empty Coke bottle half floating. Kelp can also be a problem, but less so as you move south, and not an issue at all once you're south of about Turtle Bay.
I recommend the Blue Latitude books and iPad charts. They work great in iNavX and provide peace of mind when entering anchorages. Starlink makes it easy to look at satellite pictures, too.
It's a wonderful trip with progressively warmer temperatures. Swimming finally felt comfortable in Santa Maria and we ran the air conditioning overnight for the first time between Santa Maria and Cabo!