Right on the doorstep was a reasonable climb which is used by the local cycling club for their hill climbs.
I managed to get out on my Wilier on the Saturday morning and the roads were very quiet with little traffic (outside of holiday season). I think the steepest climb on the island is 10% and the roads tend to undulate, so a little bumpy but nothing too strenuous.
I found an amusing article in the Telegraph from 2010 written by their journalists who decided to ride around the Isle of Wight as part of their training for l'Etape. They got outclimbed by a cycle tourist - something which thankfully didn't happen to me.
My pedal was just a short one, taking in Ventnor, Whitwell (no watercress farm at this one), Godshill, Roud, Niton and Steephill. I'd like to return to cycle more of the island, perhaps to do a sportive.