I've just returned from a week in Portillo and was pretty pleased with the conditions. It was my first trip down so I don't have much to compare it to, but I'd say it was better than the average eastern skiing conditions.
Up on the slopes, we had about 3" of fresh snow on Monday and another 5" or so on Friday. Both days were great, but Friday with it's crystal clear skys was awesome.
Snow coverage on the groomed trails was pretty good, though there were several of markers for exposed rocks. The snow was mostly packed powder which got a little scrapey by day's end. Temps were moderate, so the Roca Jack side softened up around late morning but tended to be crud early on. The Condor/Plateau side tends to stay a little more shadowed in the morning so the snow stayed a little fresher. The entrance to Garganta was a mess of rocks, so that wasn't worth skiing if you value your bases, but Gargantita (sp?) next door had some great snow and few exposed rocks.
My off-piste skiing was pretty limited. I skied along the traverse above Roca Jack quite a bit. Those slopes tended to have good coverage, but a lot of freeze/thaw crud, then mashed potatoes by noon. Unfortunately, it never got warm enough for really good spring conditions. The fresh stuff helped a ton though. El Estadio was awesome and well worth the high traverse. There's a chute between Primera Quebrada and Kilometro Lanzado that held on to some great snow all week. I didn't do any climbing on the Condor side but did traverse out way above the far right Poma lift and the snow was decent. The lake is completely thawed so the Lake Run wasn't skiable unless you really like hiking.
As of last week, they aren't selling day passes to anyone so lifts are limited to hotel guests (and the military in training).
You can never tell how the conditions are going to be when you book stuff well in advance. I had certainly been following the weather reports with concern. Overall, I was very pleased and thought it was a great trip. I've had trips out west with worse snow that were perfectly enjoyable. Good luck to everyone heading down.