I've spent a fair amount of time in Puerto Vallarta, but the only sailing I've done there was on a Hobie Cat.

If you plan on picking up a slip in the marina, Victor's is a good restaurant there.

Lots of places to walk/explore/eat/shop along the Malecon and the surrounding area.

A friend of mine loves the town of Yelapa, on the south side of the bay, but I've never been.

Dan