Chuckl - great idea. I've tacked Wolf Creek days onto several business trips over the years. In fact, I'm going to be there next week (Dec 3-4). WHen are you going?
I've done Wolf Creek coming from Colorado Springs, although more often coming up from Albuquerque.
The drive from CoSpgs is pretty easy. The first part, going South on I-25, is the only place I've been where the posted speed limit is 75!
You go over a small pass, then a long, long flat river valley stretch. There are miles and miles of abandoned railroad flatbed cars on the rail line parallel to the road. I'd love to know the story behind them. I don't remember for sure, but I don't think it gets steep again until you pass South Fork.
I've stayed on both sides (Pagosa Springs and South Fork). South Fork is closer from the CoSpgs side, although there isn't much there. Although I did have a pretty good steak there -- forget the name of the restaurant, it was kind-of log-cabinish decor. On that side, the small towns of Del Norte and Monte Vista aren't that far back; I meant to look around for quirky local diners or ethnic restaurants, but never got around to it.
On the Pagosa side, the Mexican restaurant overlooking the springs is just ok - nothing wrong with it, but I'm not going to make a point of going back. There are more options over there, though I can't remember where I ate. Going to the hot springs is worth doing once, just because it is so surreal walking down steps that have been salted to keep ice off in your bare feet. Each pool has a chalkboard with its current temperature. We decided to do the whole experience, and included the river in our circuit. (To be honest, though, I think there is some warm-water leakage into the river -- it didn't feel much worse than the New England Atlantic on a warm summer day.)
For lodging, I've always figured it is not going to be luxe, so I might as well go for local color and cheap.
On the South Fork side, I stayed at the "Wolf Creek Ski Lodge" http://www.wolfcreekranchco.com/home.aspx.
Very basic, but very close to the skiing (the closest place on that side, and maybe on either side).
On the Pagosa Springs side, I stayed at the High Country Lodge http://www.highcountrylodge.com/ A little nicer, and it is the closest to the ski area on that side. The only thing I didn't like was that breakfast doesnt start till 7 am. I like to have a leisurely breakfast, and then get ready to go skiing. Since the lifts start at 8:30, and it is 24 miles away (plus time to park, put on boots, buy ticket, etc), I couldn't do it that way. There is also an interesting looking restaurant right next door (maybe same owners?) that I haven't tried yet.
As for the skis, I'm just bringing my Coombas. But then that's what I usually ski everywhere these days.
Wolf Creek has only short, isolated steeps. They are easy to avoid, if that is what you want to do. (On the other hand, if you are looking for steeps, its really just the hike-to at the top and the Waterfall area, so you need to make sure you go there.) The whole left side looking up at the hill is trees, mostly pretty mellow. I have found good powder there several days after a torm. Keep your speed up on the final run-out of the Alberta lift, or you will be walking at the end.
Have fun, it's a great place.