• ooh I can contribute a little to this one!

    My route:
    I went the other way and a muuuch shorter distance last October: Lagos > Arrifana.
    Did a loop, one way was ridden on a hiking/MTB trail called Rota Vicentina: http://en.rotavicentina.com

    Surface was hard-pack gravel, short stretches of sand, plenty rocks. A good balance of up-flat-down-repeat. Front-sus is probably best (I was on one), rigid on fat tyres would be great fun, CX - hardcore fun maybe?
    The trail was empty, in the 3 days on it I met about a dozen hikers, one group of 4 cyclists.
    Took the smooth tarmac roads on the way back - N120, N268, N125. IIRC first two had no hard shoulder, fast traffic, but no dangerous situations, drivers overtake with plenty room. Downhill (if you're heading South) near Bordeira is epic.
    N125 is a dual-carriageway with a hard shoulder, not fun. Country roads south of that, with access to beaches, are much more pleasant, hilly.

    Places:
    Not directly on the route, but Cordoama beach is fantastic, with a smooth tarmac switchback downhill to reach it. But a dead end, so have to go back up, worth it.
    Carrapateira is a pretty little town for re-supply, vegan pizzas, regular pizzas, etc. Sand dunes are amazing.
    Sagres is not worth the ride along N268 which becomes a dual-carriageway. (but I think I've missed a turn to a dedicated cycle path next to it:)) Personally I did not find it interesting, just a tick on the list "visited southern-most bla bla" place.
    Arrifana has a nice beach.
    Lagos is a busy sea-side life town, mixing surfers, backpackers and errr other tourists.

    As a vegetarian I was totally spoiled by choice - plenty of veg*an restaurants, quality healthy food, local vegan beers even.

    http://www.visitalgarve.pt
    https://urbexzone.wordpress.com/category/portugal/

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