It's probably not, and may be safer than Rio or San Paulo. My wife and I, who are both white, have walked from our 5 star hotel to the local super mercado for stuff at night and had no problems at all. We even rode the local bus with no problems. If it was me I would look at Acapulco or maybe Cancun for nicer, clearer water than say PV, that's all. Post Edit- I hope you realize I am not trying to slam your homeland. It's well know that both Rio and SP have high incidents of mugging. I just watched a show and SP police admitted they lead the world in kidnappings 1500 per year for I forget what the population is.
This guy is an American writer that lives in Mexico and usually tells it like it is. He's got a few essays on living in Mexico. www.fredoneverything.net
Lastly you should consider signing and/or subscribing to escapeartist dot com international living dot com. They both cater to expatriates.