To help further we are thinking 3 solid days for sightseeing!!! 4 nights/5 days (2 for travel)

Rates really drop the first of October - we've gone then and still found fine weather and color (although it is transitional and we did get snow at the end of our trip).

You might check the Alpenhof in Teton Village, very cute. For example, a rate of $189 drops to $109 from September to October.

Oh - link for you: http://www.alpenhoflodge.com/alpenhof.htm

Are you in any way interested in fly fishing--take a day with a guide!!

What is the story with Rustin Inn Lodge? Romantic or not that luxery?

You could easily spend your entire time just in Yellowstone. There is that much to see and do there.

I think I would spend 2 nights in Jackson and 2 nights at the Old Faithful Inn in Yellowstone. Try to book a room overlooking Old Faithful. I've stayed there twice and it is fabulous having the geyser erupt just outside your window. We've sat on the bed and watched through the window for our own private viewing.

I agree that you should split your lodging between Jackson and Yellowstone.

I am more familiar with Jackson lodging so can comment on that. The Rustic Inn is great - cute, high-end cabins - with a great location near the town square. But the cabins are packed together very tightly and the whole property is right on a main street, so I wouldn't classify it as secluded or particularly romantic, unless you stay snuggled inside your cabin...doesn't sound so bad!

You might also consider the Rusty Parrot Lodge, the Alpine House, or the Wort.

I second the fly-fishing recommendation. You could also take a wildlife tour.

Also, the Alpine House and Alpenhof are two difference properties just to avoid confusion.

http://alpinehouse.com/

To further clarify, Jackson (the town near the airport) is seperate from Jackson Hole (ski area small Teton village at base of gondola where Four Seasons is). It is a short drive between the two.

We prefer Jackson Hole & stay at Snake River Lodge & Spa. (Rock Resort)rustic romanatic. The restaurant has a gourmet billing at reasonable rates for dinner; breakfast is good as well. The Spa is great after a day of hiking and there is an indoor/outdoor pool.

Conciegre is great: ask them where the "nearby" one way road is (partially paved: best for a 4WD vehicle). It is wooded and there are always Moose and other critters by the road.

We prefer Tetons more than Yellowstone. Much more open, more side roads to go down, ussually many more critters, fewer traffic jams. We did drive the 2 Yellowstone loops in 1 day.

Yellowstone does have it's special features & fans but we like the wilderness aspect of Tetons better.

below is a link to the Rockefeller Preserve.
http://www.nps.gov/partnerships/snapshots_grandteton.htm

JAckson Lake Lodge is a great place to sit at sunset in front of teh floor to ceiling windows and wathc teh grand lanscape of the Teton rnge. You will also see wolves in lake meadow. Bring your binculars and sunglasses.

http://www.gtlc.com/lodging/jackson-lake-lodge-overview.aspx

Great info from 1JAR. But I thought that I would add a further clarification regarding Jackson Hole and Jackson.

Jackson Hole is the name for the entire valley, which encompasses several towns, including Jackson, Wilson, and Teton Village. Jackson is the largest town in the valley which includes the iconic town square with antler arches and most of the shopping and restaurants. Teton Village is the area at the base of the ski resort (called Jackson Hole Mountain Resort). Teton Village includes most of the larger resorts (Four Seasons, Snake River Lodge, Teton Mountain Lodge). Jackson and TV are about a 20-minute drive apart.

Good map of the whole valley, showing the towns and national parks:
http://www.alltrips.com/images/maps/town/wy_jackson_summer_max.jpg

In my opinion, Snake River Lodge has suffered in recent years from its many buyouts/management changes, particularly service-wise. It is no longer a Rock Resort. Teton Mountain Lodge has surpassed them in the 4-diamond category (again my opinion), especially with the recent reimagining of their restaurant space as the Spur.