I have been to Pride in PVR a couple of times. The bars do get crowded that weekend (mostly folks from the west coast in for the three day weekend). The festival itself is not that large, PVR is a pretty small town after all. They have a short parade which is fun and a "festival" in the main park afterwards. It's not much, but everyone heads off to the clubs afterwards.

There's a couple of typical "circuit party" type events at some of the beach clubs across the weekend.

May is the end of high season, so you could probably find some nice deals on local hotels in the Romantic Zone. I would highly recommend staying away from AI's since PVR has some really great restaurants and very walkable.

Casa Cupula is a 5 star gay resort and you'll be treated well there, very pricey for Mexico, but a bargain by US standards. There's also half a dozen brand new "hotel condos" that have been built in the last year that are much nice than the local hotels in the area, The "V" chain is one I can think of.