Do you own a scooter? Point Lobos on a good day with a scooter is pretty hard to beat.
To me, the thing that makes most dive sites in Carmel Bay so interesting is the high density of life. It is not hard to spend an entire dive closely examining a 10'x10' patch of the water column. Unfortunately, only a tiny percentage of the Bay (which includes Pt. Lobos at the south end) is accessible without a boat and good weather.