The truth is, it all depends upon exactly what you are looking for in a holiday.
Every two years, I go on a golfing trip with a bunch of lads, around 12 - 14 of us, with ages ranging from 21 - 53. We have been to Fuengirola three times, Magaluf once and, last September, we went to Benalmadena.
Without exception, every one of us has voted to go back to Benalmadena next time.
Although I agree that the beaches are far superior in Fuengirola, that is not what we are looking for in a resort. We spent our night between Bonanza Square, where were were staying, 24-hour Square and the Marina.
Nights out at the marina are expensive, so we were selective with the time we spent there. However, I found Bonanza and 24-hour Squares to be cheaper than Fuengirola.
As I said, it's all down to what you are looking for. We felt that Benalmadena catered better for our wide ranging age groups than either Fuengirola or Magaluf.