Hi! We will be attending a wedding in Valladolid in July '07 and are looking for some itinerary suggestions. I dont know anything about Spain (sadly), but I will be starting my research now. We are two couples in 40's. We're active - husbands are not afraid to drive in foreign countries. We've been to Italy and loved Tuscany and Amalfi coast. We've got about 10 days. Might fly into France so we can get a direct flight into Valladolid - but that's not a definite. All suggestions are welcome! THANKS! Maria

Though Valladolid itself is a tourist dud - at least it seemed to me - Burgos, Madrid, Avila, Segovia, El Escorial, and wondrous Salamanca are all in the vicinity - though they can be reached by train, a car would be most useful for this area.

Fly into France to get a direct flight to Valladolid sounds more complicated than Flying to Madrid and driving for two hours to Valladolid.
If you intend to spend your time in Spain and in the central area, you have a few good choices.
As said Valladolid is not a tourist place,but you have Madrid,El Escorial, Segovia, Salamanca, Toledo, Avila,...
I suggest you do a bit of searching.

When in July?

If you are into music, there are a number of Jazz festivals in the Basque Country (not very far from where you will be staying) that take place during July. The earliest is in Getxo (outside of Bilbao), followed by Vitoria (mid-July) and then San Sebastian-Donostia, usualy the last week of July. There is the famous Fiesta de San Fermín in Pamplona the second week of July.

With a little more research, you'll discover a lot more things going on in the area.

In July, I'd head north to take advantage of the cooler weather on the coast. Head for Santiago or east to San Sebastian. If you want more detail, let us know.

Definitely go to Salamanca for a couple of days; it's only an hour or so away from Valladolid. I lived there for a month this summer and could not get enough of the architecture. It has the oldest university in Spain, a Roman bridge, a gorgeous Cathedral, and a lively Plaza Mayor in addition to many beautiful churches. Unlike a lot of other places, most attractions are free or have a day where admission is free. Be sure to visit a courtyard called Escuelas Menores (by the wall where you have to find Salamanca's Lucky Frog) and go into the University Museum to see El Cielo de Salamanca (the Sky of Salmanca). It's a painting of the constellations on a domed ceiling in what used to be the university library. I think it's often missed because it's literally just a brown door you go into within the courtyard and it's pretty much pitch black inside the room so that only the dome is illuminated. It was one of my favorite things in Salamanca.
Another great aspect of Salamanca is that I walked around day and night by myself on several occassions and never felt like I had to guard my bags (like I did in Madrid) or that I was unsafe. Unfortunately in July, there are many groups of American high school and college students who travel in huge packs and talk loudly in English. There are a lot of tourist groups as well, but the good thing about that is that the stores have to remain competitive so souvenirs aren't expensive. Keep in mind that Salamanca has a holiday on the 25th and everything is closed, and many attractions are closed or have restricted hours on Mondays.
I would also recommend Segovia for a day trip or to spend a night. From Salamanca, it's under 2 hours by car but more by bus (the station is right in the center of the old part of the city). I lived there a few summers ago and again loved it. It has a Roman Aqueduct and an amazing cathedral and castle. Avila is a town between Salamanca and Segovia, but I didn't enjoy it that much. I have also taken day trips with a group to El Escorial and Toledo, which I enjoyed.
I had fun in Madrid for a weekend but prefer the smaller towns. The metro system is easy, just get a map to show all the lines (be sure to walk around the Puerta del Sol area). I would recommend buying the 10 ticket option because it's a lot cheaper and if you spend more than a day there it's worth it. You can also get to the Madrid-Barajas airport easily via the metro. Just be sure to allow extra time if you're leaving from terminal 4 (which my flights from Dublin and to Amsterdam were both out of) because between having to take an airport bus to it (free of charge) and the actual walk/tram ride through the terminal adds on 30 minutes or so.
In general, travel in Spain is easy. High velocity trains aren't too expensive and go just about anywhere (though on weekends tickets can be sold out if you don't get them ahead of time). For shorter distances, I would definitely recommend the AutoRes Express bus. For only a few euro more, it has first-class type seats (leather and 3 seats per row instead of 4), a movie, and goes directly to your destination instead of having to make stops that can easily add on 1/2 hour. For example, Salamanca-Madrid cost 16 euro roundtrip and only took 2 1/2 hours each way. So make sure you say express or direct (expreso or directo) when getting a ticket. Buses usually run on the hour or every two hours so traveling is very flexible. Hope that helped and have a blast (I'm soooooo jealous)!

Thanks to everyone who responded. We will definitely take your advise!!