Great ok so we have been 3 times - which goes to show we like it ! We have always stayed in a 2 bed so I'm not sure about the 1 bed, but assume they'd be roughly the same size in the living area. I think you'd be fine for someone sleeping there. It's worth paying the extra to have a deluxe apartment, preferably pool side as the first year we had a non deluxe round the side and it was a little tired and a bit of a walk to the pool.
The club itself is lovely. Nice warmish pool, friendly staff - Alli runs a kids club, but it is a bit sporadic and only for a couple of hours per morning. They have free mini golf and poolside fashion shows. They used to have great entertainment in the evening with free dance lessons and people from the wildlife park, but the last time it was just crooners so not so good.
There's a restaurant attached to the hotel which is fairly decent, but dead in the evening. It's also loosely attached to L'estancia which is a gourmet french restaurant down the road, they have a 23 euro 3 course menu for Regency guests which is very good value and also offer a kids menu. They have the most amazing chocolate ice cream ever ! Within walking distance there is also a bar and a tapas bar.
The hotel has a bus that goes every 1.5 hr or so during the day, but it finishes at 6.30. We tended to get it down - it takes about 20 mins and then walk to the Del Duque area which is about a 10 min walk and has a fab beach and some nice but pricey restaurants. Or if you head in the other direction from the bus stop you're about 5-10 mins from Costa Adeje beach which has less expensive places to eat and a beach which is fine but not quite as nice.
We're trying somewhere else this year - it's a cheap appartment near the beach, but I'm already regretting it and wishing we had booked the Regency instead !