I traveled to this complex in January of 2011 and the best I could come up with was "what were they thinking?" The resort certainly would fall into the category of excess bank lending where someone in the States probably never visited and said why not? I am quite sure if you visited there now, it would indeed be quite sad, as much of the resort was finished along the coast with nice appointments, rooms and common areas including a large screening room and another area called the "Train Barn" or something like that. Wonder what happened to all those trains? Anyway, here's my take.
1. Rough at best. I came thru Cabo so it is possible it was easier thru La Paz, but I don't think they have the same lift in there. Halfway thru our journey out to the course along the coastal route, my traveling partner and i looked at each other and the WTF? look was clear. After we passed a couple of dead animals along the road, our driver admitted he had no idea where he was going. There were a few moments when we were not sure we would make it in one piece and he mentioned that we couldn't stop at one or two of the small towns. Weren't safe. Great.
2. A person I know who has sailed those waters a fair amount couldn't remember any place called Bahia de los Suenos. Further research seems to indicate someone changed the name. It used to be Bahia de la Muerte I believe. Not positive about that, but if true, big difference. And sorta funny in retrospect.
3. Course was interesting, routing was a little different and all in all, not a Doak course I would need to play again. If you are going to build something that requires this much effort, it had better be so special that people can't live without it. I would say that the original developer put a crimp in the routing, but no way for me to know that.
The only way this was going to survive after our my visit was thru the largess of someone with deep pockets. I had met the owner at the point (third?) who seemed to be a nice man. Sorry it didn't work for him.
I remember sitting on the beach at night and thinking about what a beautiful spot it is. There must be so many of these around the world. They don't all need golf courses.