Laurie
OK you're wearing me down, especially since you and I have both been to and loved Pestana Madeira, and I find it easy to believe that a purpose-built facility in the Canaries isn't going to measure up to a seaside luxury hotel walking distance from Madeira's capital.
So knowing what you know now, and if you were limited to a two-week, once-and-forever trip to the Canaries in July, how (which islands and which resorts) would you visit the Canaries?
Or would you go to Mallorca or Sardinia or Corsica instead?
[I chose July because we like hot weather and ocean and pool swimming, and we want to avoid the August craziness.]
Gee, I don't mean to wear you down, just to present another perspective.

I don't want to talk you out of something you have your heart set on - maybe you'd want to look at more pictures or computer images of all these places and see what appeals to you most! I also don't know that much about what your favorite activities are, aside from beach/pool, but I see we both like islands in general.
Having been to 4 Canary islands, Mallorca and Sardinia ... If I had 2 weeks only, personally I would choose northern Tenerife + Lanzarote. It's possible you don't have to go in July for warmest weather - check temps because they are pretty similar year-round I *think*.
Tenerife - Club Tarahal - 2-BR only for seaview (only one 1-BR had the seaview, which we got) - see my TUG review. I would absolutely go back. We did have a car, and I would again to tour the island. I got a bonus week for a friend from DAE to Club Tarahal, she did rent a car but didn't feel she really needed it. (I think tours are cheap - location is somewhat comparable to Pestana Madeira Beach Club, but not such a developed local bus transportation system.)
We also stayed at Club Parque Mesa del Mar, you can read my review of that too, I wouldn't choose it again due to remote location.
Lanzarote - Maybe Las Brisas, I'd probably pick that for a return trip, though I haven't actually seen it. Other possibilities: las Casitas, Camel's Spring Club, anything in Costa Teguise. We stayed at Club Los Molinos - average unit but beautiful pool and good location (see my review, for island overview if nothing else).
I said we didn't use ferry service, but I forgot - we did ferry over to Fuerteventura for a few days from southern Lanzarote. You could actually make a daytrip, or an overnight. I also intended us to ferry to La Gomera from Tenerife but didn't work it into our time.
I liked Mallorca a lot too, not quite as much as Canary Islands but loved our resort stay at Cala Pi, TUGger Carol C liked this resort a lot too. It's a bit remote, but not a far drive from the island's capital.
I liked Sardinia, but didn't fall in love with it - very pretty but more spread out and lots of purpose-built resort areas in relationship to local areas of cultural interest (other than ancient prehistoric rock structures) that you can get to from the TS areas - sorta like Gran Canaria (but TS areas are more beautiful). I haven't been to Corsica due to no TS there, someday I hope.