I live about 12 kms from Monte Pego and I can assure you you have made an excellent choice of area. Monte Pego is a well established – if not expensive by comparison, development but as you say the quality is good and the houses are attractive. The only downside (which is true of any mountain development) is the isolation of living on a mmountain. Also depending on where you actually bought you could find yourself isolated from the sun for some of the day as the urbanisation generally faces North East. This is not a problem in the Summer but right now it can get very cold so make sure you have heating of some sort.
Good luck and if you want any advice about the area drop me a line