Just got confirmation of my credential today... 
It looks like the show area is going to be at the helicopter ramp. I believe the "parade" is going to take place over San Diego Bay so the spectators will be looking to the northwest towards the Midway district of San Diego. Harbor Island is directly across the bay to the North.
Because of the proximity of Lindbergh Field (the San Diego airport), the planes are going to be flying a very precise flight path up the bay, which means they will be fairly close. I suspect they will fly up the bay from the south and turn out over North Island just about where the spectators are. At the time the flying starts at 1 PM, the light should be coming right over the photographer's left shoulder and move further around to the west as it gets later.
As far as lens choices are concerned, I would go for the 100-400, which is what I plan on bringing. I will probably also have my 70-200 with me as well...
http://maps.google.com ….005062,0.008256&t=h&z=18