Pollensa (aka Pollenca in Catalan) is a lovely old town about 7km inland from Puerto Pollensa. La Font is fairly close to the town. The town is fairly small with most of the restaurants/bars clustered around the Plaza Mayor in the centre. The only negative is that parking is virtually non-existent and regulations are strongly enforced, with tow-away common. The bus service to the coastal resorts or to Palma is regular and excellent, although a car is preferable to get around...just don't take it into Pollensa town.
If you need more info just ask.

Many thanks for that quick response. I take your point about the parking and would just like to try and get some idea of the walking distance from La Font to the town. Also would it be an uphill walk?

We've been told that the nearest restaurant/bar is 650 yards away, but that could obviously be away from the town.

It will definitely not be an uphill walk as the whole area is flat (apart from the Calveri steps above the Plaza Mayor, your villa is not there) but depending on your villa location you could be anywhere from 1.5Km to 2.5Km from the town. I am not that familiar with La Font that I could pinpoint a specific villa. Yes, there are lots of country restaurants dotted around the area, most off of the main Puerto Pollensa->Pollensa->Inca road, so the referenced establishment might be one of those.