There won't be white water rafting.
You are going for 2 month time.
A trip to Boulder will be fine from Denver
The leaves are already turning, according to another post here within the past couple of days.
WHAT do you want to do. Where are you going IN VAIL.

I *think* OP meant beginning of October, not December.

I am sorry but your question is not making much sense. There is nothing local about Vail - it is a destination resort. It is all touristy. You are between seasons and many of the better restaurants will be closed. The few that are open will have a lot of early bird specials which should fit your budget requirements. White water rafting is done. No run off as the peaks will be freezing and snowing. Mt biking could be limited due to weather. By early October it should be snowing at the higher elevations which leaves biking in the valley.

If you are looking for local color and a some outdoor activity you might consider Breckenridge. It is not as tourist especially that time of year. And a much better choice for that time of year.

Finding reasonably priced venues in Vail is rather an oxymoron! And fmpden is probably right that many places will be closed for off-season. As locals, we actually like that time of year in the mountains, for the relative peace and quiet. Although Vail is not our 'cup of tea'. We much prefer Winter Park.

Also, Boulder is not a good day-trip from Vail, really, unless you enjoy spending as much time in the car as you do in Boulder. People do it, but I wouldn't.

That said, we go to an annual meeting in Vail and stay at the Sonnenalp, which is a very nice place but it is on the upper-end of the mid-priced budget. There is a restaurant at this resort, called Bully Ranch, which has reasonably priced burgers, salads, etc. By that, I mean a burger is probably $10. I would assume it is open in off-season, but am not positive.

I am thinking the trip needs a rework. Maybe start in Boulder for a day or so. Good hiking I'd guess (and maybe some acclimating to the altitude before going higher). Then head to Breckenridge for a couple of days. They might even do it by driving up to RMNP, through the Park and then to Breck. Lots of good mountain biking and hiking--and local stuff.

there are things to do in Vail, restaurants, bars and shops are open, some closed .. good bargains can be had as shops dump last seasons stuff for new stuff .. we take alot of day trips to surrounding areas in our jeep .. Avon is the place to stock up on items since they have the super Walmart and groceries are cheaper there than the ones in Vail .. Avon 15 min down the interstate .. lots of hiking areas as well.. we enjoy the off season, it is quieter but very relaxing spot .. Boulder is a bit of a ways for a day, making it a 2 day trip

Thanks for all of your feedback--I really appreciate it. Just to give some background, I have a timeshare that NEEDS to be used by 10/4 otherwise I lose it. Our options were Park City or Vail and we chose Vail. I understand that local, budget and Vail are a bit of an oxymoron - and that we will be there in between seasons, but it is what it is. We're going to just go, explore and enjoy the outdoors as much as possible. It will be a nice, quiet getaway from our daily, hectic work routines.

2dogs--thanks for that great tip on the grocery store. I will keep that in mind.

I have a feeling we will be spending a considerable amount of time in Breckenridge so if you have any insight into great companies that do tours or things to do, I would love that.

Thanks again!

That makes sense. You will find plenty to do in Vail and nearby, no need to be commuting to Breckenridge. Personally, I would stay around Vail, and if I was bored, I'd day-trip to Aspen.

My husband and I visited Vail at the same time of year. We found some excellent two for one deals at the restaurants (my favorite of which was Up the Creek). I will top my report for you. The weather was perfect for hiking!

It looks like I did not do a trip report for that visit. I did post several reviews on Trip Advisor. A quick check refreshed my recollection that Up the Creek was a big favorite. We did do a day trip to Breckenridge, which I enjoyed. I do recall there were a lot of "deals" because it is not busy there this time of year. We stayed at the Tivoli and they had free bikes so we did a ride on the trails the city maintains. I hope you will have a great trip, we certainly did!