I plan to be in Ubud the end of August based in Ubud and would like to hike Batur. Can I depart from Ubud or will I need to stay at a hotel closer? Is this a good time of year to do so & can you suggest a good company to go with??

Thanks a bunch.

you could stay in either place

Was just up that way on Friday. There really isn't much in the way of accommodation up on the mountains. A few places opened years ago, but they didn't survive.

So, it's probably best just to stay in Ubud and get up at probably 1 am to do the hike. Right?

You're not talking about actually walking from Ubud to Batur, are you? It's a long way and you'll need some form of transport. May I suggest that once you're in Ubud you check out the local travel agencies and see what best fits your needs. You'll find quite a few in Monkey Forest Road and they offer numerous options for surrounding atractions (white water rafting, etc). I didn't pay a lot of attention, but I'd be surprised if they don't cater to hikers.

Whooo, I'm in decent shape but no way would I attempt walking from Ubud.

I guess I should have made my question more clear.
I learned that most groups leave at 4 in the morning to see the sunrise and I would like to do that. So, if I'm in Ubud I'd probably have to get up and leave by 3. So, I thought perhaps I should spend the night closer even though I already have reservationss in Udud. What do you think?
check this http://www.youtube.com/watch?v=nvJPdtW_JWAout

Sorry, impacked, I can't be of any real help to you there. I suggest that, if you don't have it already, you buy Lonely Planet's "Bali & Lombok", which has quite a bit of useful information on hiking the area, with various warnings and accommodation and eating recommendations - too much to repeat here. Having skimmed it, I would say that it (or an equivalent, if there is one) is a must-have. According to LP the time to avoid is the wet season, October to March.