1) Torrey Pines HS is THE default high school for Carmel Valley so your kids WILL be able to attend TPHS if you live in Carmel Valley, in any part of Carmel Valley serviced by the Del Mar Union School District (the elementary school district). You can easily verify this information and the district map on the school website, http://www.sduhsd.net. Maybe you’re defining Carmel Valley differently than I am. There are neighborhoods farther east that some people still consider Carmel Valley close to Santaluz that are actually in the Poway school district (obviously, also an excellent district).
2) Canyon Crest Academy (CCA) is not at all a less desirable choice for residents of the district. To the contrary, many people prefer to have their kids attend CCA for a variety of reasons, never fearing that the academics are inferior. The CCA API scores are at the same level as TPHS (I think the API total is literally within one point), and the advantage to many kids is that CCA is a smaller school. There is a great focus on arts and sciences, with an arts conservatory program. There is no football team, which can be a plus if your kid is not an uber-athlete/jock type or a yay-rah cheerleader type. Still, their athletic teams are topnotch. It’s also on the 4×4 class schedule, allowing kids to concentrate more on certain subjects and/or take a variety of electives. This can be very intense, but many kids love it. Just depends on what’s best for your kids. Either school is great and CCA has just been open for 5 years (hence, they have amazing new facilities) and so their reputation is not yet as wide-reaching as TPHS.