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Wow, cool that you are making the trek! I used to spend a lot of time in Santa Monica...you are getting great advice from the locals.
You will positively want a car at all times. I too am flying into LAX (Thursday 26), and will decompress in Venice Beach. A friend put me into a place near where the kitesurfers launch called the Best Western Marina Pacific. Due to some renovations on one of the floors, rates were also down. I found very good car rates from Alamo via Continental's site. Expedia's rates were higher.
I second the thought of getting to Pasadena (or getting a feel for Venice/Santa Monica, but not doing downtown LA--maybe Westwood or Beverly Hills, but not downtown). A friend (who happens to be British) in the tour business said due to the strong Euro, half of Europe is visiting. PM me if I can be of any assistance. I drive out (with Nav) early Saturday (much less traffic) and you are welcome to caravan.
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2004 X5 4.4i Sterling Grey/Black Sport Prem 132s/Diamaris Rear Climate OEM Nav/Sirius RBs AngelBrights Roundel Valve Caps, 35% front tint. Sold MArch 2012
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