I called there today because I had to add to my reservation for my camping trip in July...
Well anyways, The guy told me that the fishing is tough but the bass are active in the Arroyo Grande Arm...
He said that once the shad start to spawn the bass bite will be wide open on shad...
He also stated that when the crawdad's begin to spawn that the bass will be active as well...
I was surprised to get this answer because every year when I call to get reservations the girls just say "yeah the fish are biting on worms" then they don't know anything else after that...
This guy was very informative...
He told me that water temp was at 68 degrees and the bass were moving to secondary points...
He did state that the water level is lower than ever but that the lake plans on adding water in mid May...
He said that the SLOPOST (San Luis Obispo Parks Open Space & Trails Foundation) was going to have the Coca-Cola Company donate funds to the lake as well to help out in this time of need...
Well I hope this was helpful to you guys...
I am just relaying what I was told though...

Tight Lines, Bent Rods, & Screaming Reels...