I target the Black Bass at Santa Margarita but it also has trout, catfish and panfish. It's pretty much a fishing lake since they don't allow swimming there, hense no water skiers or jet skis like you'll find at Lopez Lake a little further down the coast. They do allow boating and float tubing if you wear waders. I'm usually fishing from my float tube. There is also a lot of shore access with over 5 miles of the shoreline accessable by car. It's a great, quiet, scenic lake. Let me know if you need more specifics and I or someone else on the forum will fill you in!
For pier fishing you can go down to Avila Bay or a little further to Pismo. Or you can go up to Morro Bay or Cayucos(sp?). Avila is your best bet for catching something, Pismo is said to be good at night for shark. Try www.pierfishing.com for more info. Ask your question on their message board.
Ken A