We go down all the time from SD to just before Ensenada and have been a few times below there. In my opinion northern Baja is safer and better than it was before to narco violence. The people really want the tourists back and there is a severely limited tolerance for corruption. It used to be that the cops would shake us down from time to time for a bribe but I have not had a single problem in the last 3 years with that. Worst case is if you do get shaken down just be patient and follow them to the station to pay the ticket if you don't want to cave in to the bribe. Most of the time they will just let you go if you don't seem like an easy target. I have never had any issues with Federales at checkpoints. Just be respectful and let them do their thing. It doesn't hurt to offer them a cold Coke from your cooler though.
I follow these rules and have been fine:
1. Dont stop in Tijuana. No reason to really in my opinion.
2. Drive the speed limit and keep your eyes peeled for stop signs and stuff.
3. Dont drive at night.
4. Dont drive anything flashy, try to keep a low profile.
5. Its Mexico and you are now on Mexico time. Dont be in a rush and dont have too tight of an itinerary.
I would say do it but let the wife know that it may be a bit of an adventure and that you may need to roll with the punches. 99.9% chance that you will have no issues though.
1993 Land Cruiser, triple locked. Soon to get a diesel!
Lots of other outdoor gear.