I just finished reading a couple of reviews here for El Colorado and most of them were about right. Although it ought to be said that even though Farrellones is a tiny little resort. The chutes and rock bands that are easily accessible from El Colorado are quality and rarely tracked out.
Plus in El Colorado there is a place to stay that is slopeside and very affordable... 3valleyschile. They are located in the Monte Blanco building just below the terrain park. It is shared accommodation but they can do private lodging too. There are many amenities included in your stay with them.