head down to the city when you get a chance for dinner - Baked In Telluride (pizza), Smugglers (assorted stuff), Floradora Saloon (good hamburger deal , but only served at the bar), very good Italian place right on Main Street (Rustico). New Sheridan Hotel for drinks.
I once got hammered drinking at (I think) the New Sheridan bar. Ever since I've blamed it on the altitude.