According to friends who are there, certain parts of Tenerife (the well known touristy bits) are still as bad as ever, although not quite in the numbers it was a few years ago.
Falling numbers in British tourists have hit the Canaries quite hard over the last couple of years.
I lived in Cyprus from 2000 till 2002 and my friends there have told me that the place has become very quiet.
Falling numbers in "young" tourists has made it a bit more cut throat in reeling them in.
If you want a more peaceful existence then check out Lanzarote.
I posted a reply in the "What's the area like?" Forum, you might like to read.
Regards
Rick