I flew by EZY to Tenerife in February and everything was fine. As you say its the North terminal, we had the 07:00 flight and it was chaos. Arrived at about 05:30 to find there was no difference in doing the bag drop than checking in old style. You still have to do it manually unlike the way things work in the US. The flight time was exactly 4 hours and flights were full both ways. Tenerife airport was very easy arriving about 11:15 local, was out within 30 min of landing. We too came back on the evening flight all very smooth checking in, security etc. We stay in a apartment about 3 miles from the end of runway right on the approach, heaven!:D

have a great time
rob