The activity level at places like the BM is as good as any other - no better no worse. The parade itself is nice if you are into that sort of thing with lots of brightly illuminated floats. The problem is the crowds. Either get there early for a good spot and be prepared to be stuck and have to wait or try to squeeze in later and be jostled by the crowds and only catch glimpses of the floats over everybody else's heads (unless you buy a stool to stand on).
As for the confetti, it sounds like more fun than it really is. Sure you can buy a bag for just a few colones to throw around, but most of the K*ds throwing the stuff around do not have money to throw around that way and simply scoop up the confetti off the streets and "recycle" it. I don't know about you, but I don't relish the thought of someone throwing some confetti on me that was scraped off the same street some drunk was probably pissing on the night before. And the public health authorities feel the same way too which is why they are trying to discourage the whole confetti thing.
Personally, I wish I had taken that weekend trip out of town that I had been thinking of instead, which is definitely what I will do the next time I'm in SJ at Festival time.
OTOH, if you could get a hotel room with a decent view of the parade route for the evening of the parade, that could be very cool. Do any of the rooms at the Presidente afford decent views of Avenida Central? Its one block over and I'm guessing other buildings block the view. Perhaps an upper floor room on the south side of the Gran Hotel (with a view over the trees in the plaza) would work. Alternatively the Ambassador Hotel on Paseo Colon may have good views from the rooms on the north side, though I'm not positive where the parade starts from. I'm also not so sure how chica friendly either of these places are either.
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