Marin Mommies has a good overview of whale watching at Point Reyes:
Probably the best place to see the whale migration is at the Point Reyes Lighthouse, since it’s at the point where the Point Reyes Peninsula juts farthest into the Pacific Ocean. Chimney Rock, on the opposite side of the ridge from the lighthouse, is another good place to observe. Due to the popularity of these spots, the Park Service operates a winter shuttle bus program in the area on weekends and holidays starting the last Saturday in December through mid April. …Whales aren’t the only large migratory marine mammals to be seen out at Point Reyes. Over the past few years, the Point Reyes peninsula has become home to a sizeable population of Northern Elephant Seals (mirounga angustirostris). These huge seals can be found camped out on beaches around the area, particularly in and around Chimney Rock.