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This year I went to Rhodes, Milos, and Santorini (Thira), and my favorite by far was Milos. This gem of an island is not as crowded or as much of a tourist trap as the other islands. Milos has very interesting beaches and geology. Prices are better there, too
I cannot say enough about Milos. If you are looking for some of the best beaches, romantic sunsets, small towns, great food, and the nicest people - go to Milos! The island really takes you back to nature. The beaches are numerous and outstanding. The cliffs and water are breathtaking. It makes you never want to return to civilization.
Milos is beautiful! Three days is a good amount of time. You will definitely want to rent either a scooter, car, or perhaps a 4x4 ATV (those are cool!) if the island has enough of the latter! We rented a scooter and had almost 2 full days on the island. We arrived in the morning, checked into our hotel, then rented our scooters and ATV and were off! There is a tourist office directly in front of you when you get off the ferry (unless you're taking a plane - then, you'd probably be able to locate an information booth there.) You can find free maps and info here on accommodations, things to see, etc.