Hey Bill,
there usually is not a "best place" during Concourse weekend, its a matter of
finding an available room; anywhere within 30 miles! Not kidding. We usually reserve our room the day we leave for the next year. There are waiting lists at some hotels/Bed and Breakfasts. Some people have been going for 25years+, every year. Most places in Monterey, Pacific Grove, Seaside, and Carmel (all within 10 minutes of each other), carry a 4-night minimum stayover - during this one time a year weekend.
Being its January, you'll have much more luck than those who wait til Summer. To get a jump start, try calling the Chamber of Commerce if you have a hard time finding an available room. I believe they help to maintain a call list.
Other Information / Lodging / Recreation:
http://www.monterey.com/
Monterey Peninsula Chamber of Commerce
380 Alvarado Monterey, CA 93940 (831) 648-5360
I hope this helps as a good start.