Pleasant Valley is a great place for the climber/camper who wants an upgrade from the Pit. It is a bit more expensive, but the stream running through provides a lush and calm atmosphere. It provides all of the simpler camping amenities you might want/prefer and tends to be less windy than other near by camping areas.
This is the most scenic former gravel pit you could ever hope to stay in, located on the same road that leads to the camping by the river. In season, the friendly host takes great care of the vault toilets, and there is trash and recycling collection. No water, but hey, it's $2 a night!
Not sure else what you'd come here for. Great rock climbing across the 395, but PVR is mostly for the float tubers. There is an awesome little wild trout section where you can get a hold of the colors of the sierras, otherwise the reservoir is a steep sided sketchy lake. Don't bring your dog. The land kinda just moves around as you approach the sides, whole area is marked enter at own risk by LADWP. Bring sunscreen, year round it gets deathly hot out down here. The sites are well distributed around a creek.
There is Pleasant Valley Campground, and if you cross the street and drive a little bit in you can get to Pleasant Valley Pit. This place has no shade, no trees, but amazing view of the Sierras. Dogs are allowed. Bathroom available. And is only 2$. This place is also close to other attractions like hot springs, Happy Boulders area and local hikes.
You will find mostly two groups of people: rock climbers and fishers. Around 20 min drinking from Bishop, it makes a convenient place to relax from your recreational activity or road trip. Sunsets are amazing.