We're lucky because some friends of ours run a small organic farm near there and we visit them occasionally. I've brought my bike along a few times and have seen a good amount of the local roads.
I really recommend Figueroa Mountain Road which starts North of Los Olivos. After you go past Michael Jackson's Neverland Ranch area the views start to get pretty spectacular. Often times you will ride well above the thick low clouds that make the pinot grapes grow so well in the Santa Ynez valley.
Lots to explore in the Los Padres forest. The dirt/asphalt roads are easy but there are loads of more compilcated places to explore the further you go. A good loop out of there is through Happy Canyon.
It's difficult to go by instinct in the lower areas around Cachuma becasue so much of the land is privately owned and heavily gated. You can't go wrong on Figueroa Mountain Road though. Have a great weekend!