Stayed in tower 5 at the beginning of January and could not have been happier with our choice. The views from the gulf-facing units are stunning, and the entire property is beautifully maintained from the gym to the tennis courts (being resurfaced while we were there) to the beautifully paved walkways and roads. The restaurants are very good and reasonably priced for being in a beach resort. The unit itself felt practically new, it was so well kept and was tastefully furnished. If you rent through the management (Premier Island Resorts) the rooms are very well stocked with kitchen utensils so cooking at home is a lot of fun.
The best thing about Portofino is that you get the conveniences and amenities of a large resort while also being somewhat removed from the hustle and bustle of the boardwalk and main hotel area of Pensacola Beach. You're also right next to the national seashore which allows you to take long walks on the secluded beach or on the trails through the dunes.
This really is the ONLY place I will consider staying when visiting P-cola beach in the future.