Telluride is a beautiful historic mining town and has some great restaurants/bars even if the likes of TomKat and Oprah may be lurking nearby. You can walk to everything and you can take the Coonskin lift up and ski all the way back to town at closing if you don't want to ride the Gondola.
When we were there we visited Eagle's Bar and Grill (good sushi, thai and other interesting menu items) and Woody's (pub/ American) and Leimgruber's Beer Stube(german fare). I heard that Fly Me To The Moon Saloon was fun as was O'Bannon's Irish Pub.
Cosmopolitan and Blue Point both had good food and drinks but were more sit down establishments. Sofio's for Mexican.
At the top of the mountain there is a great cabin called Giuseppe's with food and an awesome view of the San Juans. I have a 35mm pic that is incredible that I took on a blue bird day. The views are unbelievable all over, however. One of the things I love most about that area.
We skied off Coonskin, Apex, Palmyra and the Plunge lift mostly. Prospect wasn't open yet. And we mostly ski intermediate to advanced runs.
Looks like they are getting slammed with close to a foot overnite. Have a great time!