We have done 2 Med cruises and we also go to Cabo each of the last 6 years for the Sammy Hager Birthday Bash the 2nd week of October and stay in the all-inclusives. CRUISE....
The All-Inlusives are not located in Cabo except for the Tresoro and I would not recomend it. They are located between San Jose del Cabo and Cabo San lucas and require a 25 dollar cab ride each way.The Me is nice,right on Nikki Beach but not an All- Inc.I would rather do Puerto Vallarta and stay at the Palace Resort.The Jacuzzi in every room is nice for a honeymoon and the resort is first class.
The biggest drawback on the cruise IMHO is the ports require 1.5 hours on a bus several times Rome, Florence ect.as they are not port cities and most sailings are port intensive.You really don't get time to use the ship.The last Med sailing we did was a 12 night on the Brilliance and we spent 1500 extra just on excursions.It is a great way to see europe but be prepared $$$.
We did a overnight in Venice and the Captian was able to pull up right infront of St Marks Square so you were able to come and go all night and that beat anything you would be able to find in Mexico.