Eos have some strange rules about pm's for newcomers to the site. Anyway I replied to your pm but just in case it doesnt get through here is the content repeated...
No such thing as a direct flight from IBZ to MJV as you so rightly say all are routed via either BCN or MAD.
Having nothing better to do on this blisteringly hot Granada afternoon, I decided to pursue the issue of the tram service from Denia to Alicante and dig a bit deeper into their timetables, http://www.fgvalicante.com/descargas/pdf/HorariosTRAM2009junio.pdf
Basically it looks to be easy peasy!
Trams run hourly from Denia to Alicante from 0620 until 2020. All involve a change at Benidorm from route L9 to route L1. The waiting time at Benidorm is 6 minutes. Total tram journey time is 148 minutes.
Trams arrive in Alicante at the current terminus at Mercado in C / San Vincente which is about a 10-15 minute walk along the Avenida de Alfonso de Sabio and Avenida del Estacion to the RENFE Station for the onward connection to Murcia (change) and Totana.
Again having nothing better to do I ran a specimen timetable for the entire route and came up with this;
Dep Ibiza 1100am
Arr. Denia 1300
Dep Denia 1320 or 1420
change at Benidorm
Arr. Alicante (Mercado) 1550 or 1650
Change Stations at Alicante
Dep Alicante (Renfe) 1605 or 1705 or 1805 (1605 departure might be pushing it a bit!)
Arr Murcia 1724 or 1824 or 1924 (Change in each case)
Dep Murcia 1745 or 1845 or 1945
Arr Totana 1821 or 1921 or 2045
There is also a Talgo Express service from Alicante direct to Totana as follows
Dep Alicante (Renfe) 2039
Arr Totana 2226.
Its a longish trip but probably far less wearing than the AP 7...
An interesting afternoon well spent I hope!