I have just come back after 4 days at Rancho La Paz - and I would definately go back.
We were 7 friends who stayed there for riding each morning and afternoon - approx. 2.5 hours each time. The horses and the terrain around the ranch is fanstatic for a riding holiday. We had two different guides who both spoke English and listened to our requests when riding. It was also a great pleasure to see how well all the staff at the ranch to care of the horses.
The ranch is very well kept and I enjoyed the surroundings very much - it is a pleasure to have the horses so close by all day. We also used the pool a couple of days.
The rooms are very basic, but clean.
Yes, I agree that the food is rather bad - lots of room for improvement there.
I am glad that I have read the reviews before going, so I had no bad surprises when paying for drinks or trips to the nearby city. If you are just aware of that - then you can have a fantastic time at the ranch.