If you are coming from flatland, Grays and Torreys is a bit more than a moderate hike. While the "standard" route on both (including the traverse over the saddle) does not involve any technical climbing and is a Class 2 hike, it is fairly strenuous and involves 4k ft of elevation gain at high altitude. You should be acclimated first.
Good beta is here: http://www.summitpost.org/mountain/rock/150385/torreys-peak.html A good guide book is Gerry Roach's Colorado 14'ers. Torrey's is one of my favorite 14'ers, although I have never actually climbed it by the standard route (have done Kelso Ridge and a snow ascent up Dead Dog Couloir- some of the pictures on the SP website are mine). Grays is fun, too, and you will see lots of mountain goats and big horn sheep on the way up.
Plan on a start from the trailhead by 6:00am, and be off the summit well before noon to avoid the risks of lightning. You will also need decent ground clearance on your car to get to the trailhead, although I understand that the worst ruts in the road have been filled in and that it is much better than in years past.
For a nice road bike ride in Summit Co. that is not too difficult try Breckenridge to Vail (it is harder in the other direction). It does involve a climb up to the top of Vail Pass, but going E>W (as opposed to the other way) it's not too tough. Bike path pretty much the whole way.