We have just returned from the Majesty Colourful Coasts trip. Overall, we felt it was reasonable value, with some caveats.
Cabin - we had booked a small inboard cabin, and although compact, met our needs. It was clean, comfortable and was what we were expecting.
Ship - a smaller ship than we've previously used, but no major complaints apart from it's stability. It rocks and rolls like an old car ferry. Not sure if there are any stabilisers on this, but even in slight seas, it can be a nauseating experience for some. Our first evening sailing (as opposed to overnight) in slight seas, saw large queues at reception for seasickness pills. I was fine, but my wife missed that evening's dinner and entertainment. Given how calm the sea was, I was amazed to see how much roll there was. Similarly our sailing from Agadir in moderate seas had people staggering down the length of the ship. Never been on a ship so unstable before. Ship was in good condition for its age and apart from too few toilets on the top decks, and relatively limited facilities (which we were expecting), it was fine, clean.
Bus trip to caldera, brief walk there and back, followed by half and hour in the most dire winery I've had the misfortune to have a tasting. And then a trip to a pottery/souvenir shop. Bit of a waste of a morning.
Really nice port, easy to walk to Funchal, though plenty of taxis and buses just outside the port to take you the short drive. You can easily walk back along the pleasant promenade. The town was interesting, lots to see. Cable Car is easy to get to, and its easy to DIY the cable car/botanic gardens trip yourself. Hop on and off bus is good value too. Nice resort, amazing fireworks viewed from the ship.