The location of Capella Pedregal (CP) is great and very unique, with the Pacific Ocean (not the Sea of Cortez) on one side and gorgeous rocky hills on the other. And you can walk to the town of Cabo easily, but you never feel like you're in the city - very cool.
But I'm very surprised that CP is so often described as 5 star. I think the rooms and service at Las Ventanas and Esperanza are much, much better. We were in a four BR residence (rooms 540-541) at the top of the property with gorgeous views. The room was big and fine, but not worth the price we had to pay - many of the phones didn't work, cushions on the couch were stained, plunge pools were too cold to use (82 degrees is their max), one of the master baths smelled like sulfur, the quality of the robes and bath products were mediocre etc etc. Just not up to 5 star standards. Same is true for the service, especially since there is a 15% SERVICE CHARGE added to your bill - hundreds of dollars daily (!) - which was annoyingly not pointed out to us (as we tipped and tipped). The service by the pool is great, but otherwise, I was less than impressed - if it were left to me I'd give the pool guys $10-$20 a day, and that's about it - definitely not worth what we were paying. Housekeeping was a disaster, often took 2-3 calls to get them to come, and the job wasn't done very well when they did. Gym is very nice (and it's actually included!), but there was rarely an employee to be found to answer questions about the equipment or to replinish water etc. Spa was nice also, but again the treatments were not worth the prices.
I know some folks who have found great deals at CP. At 50-75% of the cost of Las Ventanas or Esperanza, I think it makes sense (75% if being close to Cabo is important to you, 50% if it's not). It's definitely a 4+ star property/experience, but it's not 5 stars in my opinion.
The food and service at the Beach Club & Don Manuels is excellent, far less so at El Farrallon where the setting is spectacular, but all else is pretty bad.