Your post inspired me to call my Telluride local buddy for a report on conditions. He has been out 23 times so far. I have a 5-day pass there this season, but have not been over yet. They have skiing all around the mountain, but the steeps and many runs are not open.
Up top: Revelation Bowl has not opened this year. Lift 6 and the Gold Hill lift are running, but only the groomer runs (See Forever and Woozley's Way) are open. Lift 9 is open, but I believe only Upper Plunge and Bushwacker (groomed are open), which lead to Lower Stairs (groomed and a little gravely) and then the Telluride Trail over to Coonskin.
Lower Mt: The runs off Lifts 4 and 5 are mostly open and have pretty good coverage, but the few bumps sections involve a little debris dodging in the low spots, and things get slick lower down near the Mt. Village. On the town side Coonskin and a few of its connections are the only way down. Lift 8 from town up to the bottom of Lift 9 is closed for the foreseeable future.
Up high they are trying to pack more of the short connections off Lifts 5 and 6. Without a big dump (a very slim possibility) your best bet for good skiing will be if it gets sunny and warm. Take your rock skis and snowboard, and low expectations and your should have a great time. Even at 1/3 strength T-ride can still be fun.