I took 2 free walking tours that I highly recommend given by the Tourism Office of Puerto Vallarta.
The tour starts at their office location which is just off the Malecon at the corner across the street from the Church of Lady of Guadeloupe. It was exactly what I was looking for.
They have tours running on Saturday morning at 9am, Tuesday 9am and Wednesday 9am. This tour covers area of Church, up hill to a scenic lookout point, along the area to the Rosita Hotel and back on the Malecon with explanation of the sculptures.
The Tuesday 12pm and Wednesday 12pm tour also starts at their office and then heads to the south side on the Malecon with explanation of the sculptures, goes to Isla Rio Cuale with interesting murals, up to Gringo Gulch area where you see where Elizabeth Taylor and Richard Burton lived and the famous bridge which is now the Kimberley Hotel but you also get to see in this area the magnificent views from up in the hills to the ocean and also a close up view of the crown on the Church of Lady of Guadeloupe, the interesting architecture, the cobblestone streets. The guide Julian is excellent, speaks very good English and is very knowledgable.
The tour can last from 2 to 3 hours. If you find that you can not make the whole tour because you do have to climb a lot of stairs up hill and you leave the tour earlier it is fine and understandable but please let the tour guide know you are leaving the group. It would be a nice gesture to give him a tip as this is how they make their living. Even though this tour is free, I can say it is just as good or maybe even better than some tours I have taken.
Make sure to wear proper walking shoes. Streets can be cobblestone or uneven and are hard on the feet if you are walking long distances.