Yeah, its worth your time and money. Its one of the most magical places I have ever been. If you are into clubs then the openings in June and the closing parties in September are the best. However, just renting a car and driving to the north side of the island is enough for me. Isolated coves, full of pine trees, a DJ spinning ambient music, a beer.... its awesome. Also recommend taking the ferry one day across the bay to the smaller island of Formentera where there are very few people, and the water is gorgeous.
Have fun - I'm jealous.