I've lived in NM twice in my lifetime, and have skiied at Taos a number of times beginning in the the late 80s and most recently in Feb 2008. One trip in 1997 remains one of the best ski weekends of my life. It's an old-school ski area...very little glitz, but lots of great terrain. As everyone has heard, Taos finally opened to snow boarders last March. (As far as I know, Hell has not frozen over.)
Taos is a resort for serous skiers...not for posers who want to be admired. If you come here, it's for the steep and the deep. I'm ashamed to admit that I have not sampled Taos' hike-to terrain, which by all accounts is impressive. But even if you are not so adventurous, Taos has a lot to offer for the advanced skier. Al's Run, of course, is a must.
The resort is quite a way from the town of Taos, and the offerings at the mountain are limited. If you plan to stay in the town of Taos, though, I can highly recommend the Taos Inn, a great place to stay with historical significance. Doc Martin's, in the hotel, is an excellent place to dine.