Several friends and I drove from Durango to Dolores then up to Ridgeway prior to the Narrow Gauge Convention in Denver last September. If you've not made the drive before and are a serious RGS fan, you'd likely find the drive worth your time.
Make sure to stop in and see the Depot and Goose #5 in Dolores. Trout Lake was interesting with a tank still standing. If I recall correctly, we took a gravel road north from Ophir and went past the coaling pocket at Vance Junction.
As for Telluride............it might be worth going there once, but I have no interest in a second trip. The Depot is surrounded by new construction. Streets have been made "one way" to accomodate the traffic. Goose #4 is still there, and not in too terribly bad shape.
If you make the trip, make sure to stop in at the Ridgeway Vistors center. They have a nice display of photos of the RGS inside.