Laguna Nigel is a nice place, but if your on the wrong side of the ridge, you can either have an ocean view or a beach view. Laguna Beach is like a very tiny version of Malibu, It is nice, but not much to offer. It is not a place you would want to spend a week long vacation. Unless you have a lot of $$$ and I mean a lot, then you have quick access to Dana Point to the South and Newport and Huntington Beach (you've seen the Hollister T-Shirts). It is a nice area, but when you put them together it like a metro area.
That is why I chose Malibu, is is out of the way, except for summer.