I did it in 2011. Its still run by the same team and many of the stages similar with minor tweaks. When we did it, the first 2 days were slightly different (same areas mind you). Absolutely brilliant race, superbly organised. Hotels were lush and as its small (70 odd people when we did it) feels really intimate and you get to know all your fellow racers.
The GPS thing is a misnomer. They load it for you, answer all your questions. Found it completely idiot proof even for a luddite like me. Never once struggled with directions. From a technical perspective there is nothing to write home about. We had a few rocky sections and some fairly tricky roman road sections (only in the rain) but nothing else really.
Be prepared for LONG days, especially if the rain and wind come along. In our year the first 3 days were tough with lots of rain/mud/wind – didnt take enough kit and promptly froze. Warmed up nicely though as we made our way to Sagres. Think I ended up 28th our of 70 starters in the end but that amounted to 6+hrs in the saddle per day and one BIG day of almost 10hrs (we were re-routed due to flooding and did almost 180km).
Definitely worth it.