Drake's Beach is one of the few south-facing beaches, so when the surf is impossible to fish elsewhere it can still be fishable, especially for fly fishermen. There is a spot towards the west end of the beach that could be really good for barred and calico surf perch.
It's going to be closed to all fishing, as noted.
There is a colony of elephant seals that has established itself at the west end of the beach. Every year they have extended their haulout area farther and farther east, so that trying to access the spot mentioned above runs the risk of close encounters with the seals. While I've never been attacked by one of these monsters, I've been snorted at, which is all it takes to exceed my comfort level. Consequently, I've pretty much written off Drake's Beach as a destination, on the presupposition that the seals are eventually going to take over the whole beach, MLPA or no MLPA. Sticking to the seal-free east end of the beach should be fine until the closure goes into effect. I hope that helps!