We may change it up a bit but this takes us along the la Princessa walkway, through the original Old Gate, up to El Morro, down to the Bascilica, toward umbrella street (if it's still there) and to a few shops we want to hit. I understand from someone in another thread you can in fact enter El Morrow directly from the waterfront walkway if you were to continue vs. going through the Old Gate.
(hope my reply isn't too late, didn't see you had asked this question).