Vince,
This is an easy and fun hike that you should be able to do quite easily. The railroad grade is not fully overgrown and is easy to follow. In many places, ties are still left. Navigating the roads though Red Mountain and Guston is hard to describe here - basically if you are coming in via Red Mountain town, go through the Genessee Vanderbilt dumps, drop down to the Yankee Girl headframe, then wrap around just above Guston and the Guston mine dumps, then drive back up onto the railroad grade and follow it to here: 37°55'16.16"N 107°41'25.47"W This is where you will start your hike. It is below a private cabin and the grade is very visible. Enjoy the little hike, take lunch, and maybe recreate the photo found on Pages 104 - 105 of The Rainbow Route.