So, now that I have reservations made in Durango I have been looking around at the variety of places where I can play in the snow:

Durango Mountain Resort is the obvious place to start. They haven't had any new snowfall in the week before this post and they are starting to have a bit of melt-off. This isn't ideal, but this will still be a good place to start our skiing. Lift Tickets are $59 a day here, and they have over 1200 acres of park. Hours of Operation 9:00 a.m. to 4:00 p.m. Half day starts at 12:30 pm.
Durango Mountain Resort Current Quick Stats (2/10/2006):

Telluride Ski Resort is only 73 miles north of the city of Durango, and they have had a phenomenal year of snow. Lift Tickets are $76 dollars a day here, but they do have much more snow than Durango. Telluride has over 1700 acres to ski. Telluride Ski Resort Operating Hours are 9:00 a.m. to 4:00 p.m. 7 Days a Week.
Telluride Ski Resort Current Quick Stats (2/10/2006):

More info:

Driving Directions from Durango, CO to Telluride, CO (73 miles)

Colorado Ski Report from RSN.com