We have a place in Bahia. It suits us very well because we do like to walk and don't have a car when in Spain. And where we are is easy enough to stroll out even if you just need some bread. Etc.
I think my advice would be to consider the extremes of the year (in normal circs). In July/August the whole port is buzzing but and you might be glad of a bit of peace and quiet perhaps by being a bit further out. But then in January, it can very deadly quiet once Tres Reyes has passed. Some of the more peripheral amenities aren't open all year round and some streets (i know Bahia better than Playasol) can be virtually deserted with no-one there at all.
I think the Playasol thing (esp up around roughly near Lidl) might be that it does have bit of a bad rep for squatters and some rough types. I read recently on the local news that a drugs house had been busted up that way. But I know plenty of people up that way with very nice places who have had no issue. Then again, one of the Urbanisations in Bahia has had squatters for several years.... so make up your own mind. :)