6 of us stayed - my wife, and two friends (couples) - at Villa Nicola in August 2012 and had a really relaxing time. The villa, pool and grounds are kept to a very high standard - they do have tennis court at the back but it was too hot for us play!
August in southern Portugal can get very hot and I'm pleased to see that the owners have now installed air-con in all the rooms. Which was, I think, was needed and probably my only criticism from my stay. Still, its impossible to complain about such lovely weather!
The Villa is located in Guia which is beautiful, you will need a car to get about though.
The central point of the villa is the wonderful pool - it has a gradient going down from the edge to the centre making it very safe for kids to play in and has the sun all day. There's a large BBQ easily capable of entertaining a large party for friends and family.
Couldn't rate this place highly enough. mehr