The goal of the UP at the time was to get to Leadville. There were several scenarios to get them there from the Clear Creek Valley. One was to build up the valley and tunnel under Loveland Pass. Apparently a pioneer bore of the proposed tunnel was pushed through but nothing more was done. Another was through the Atlantic & Pacific Tunnel, a private enterprise that was to be a combination mining and transportation venture. It turned out to be more of a scam on the part of the promoter, but a fair distance of the tunnel was built. There was even a proposal to utilize the Argentine Central and tunnel under Argentine Pass through the Vidler Tunnel. The 6% grades and two switchbacks probably made this the least likely option. In the construction of the Georgetown Loop the UP was obviously intending to build a "mainline" route to Leadville. A line over Berthoud Pass would have definately been the long way to get to Leadville and was proposed more as a route to Salt Lake City and the Pacific Ocean.
When the UP acquired the South Park RR, they got their access to Leadville and all proposals to make the Clear Creek line a route there were dropped. It would have been shorter than the South Park route, but apparently the UP didn't feel it was worth the cost.
Phil