Definitely worth going with a bike. Especially small slow ones like ours. Can happily pootle around the whole island, exploring all the little windy roads which disappear into the hills, visit four different beaches in half an hour. There's some fantastic gravel roads, takes a little time, but you get out to these old WWII tunnels and gun emplacements, really remote.
It's a lovely place to have a bike. Went there for three days or so with the girlfriend, we explored most of the island.
Oh, in terms of parking your bike on the ferry, best off putting it on the side stand and in first gear. More stable than the centre stand; we came home in pretty horrible weather, the ferry was pitching and rolling, but the bike was fine.
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