Hello EvanR,
I took this flight several years ago without any problems. The main complaint I have heard in regards to the Faro airport is that it can be busy and seems too small for the amount of flights that are coming and going, especially if you are traveling over a weekend or on a holiday, so allow for extra time.
Ryan Air is one of many budget carriers throughout Europe who can have some pretty cheap flights, especially if you book ahead, But they also nickel and dime you for extras, like seat assignments, bags, snacks, etc. They have a good on-time record and while I have heard that they have canceled flights at times (as can any airline), I have never had any issues with them personally (knock on wood).
I fly them almost every year between various destinations. My advice is to be sure to read all the fine print when buying your ticket, pay for a seat assignment (especially if you are tall and want the exit row), pay to check your bag, as the overhead bins are small and these flights tend to be full and be sure to check-in ahead via their app.
Ryan Air now has electronic tickets, so you will need to download their app onto your smartphone to check-in. In the past, you could print your tickets months ahead of time and they charged extra to print them at the airport (the last time I checked, something like $75 per ticket). The electronic tickets are new since I flew them last and should be much easier. I recommend checking in ahead of time on the app and downloading the ticket onto your phone. And make sure your phone is fully-charged when you arrive at the airport.
