MP and Torres del Paine on same trip?
 

Fly into Lima, transfer to Cusco, spend a couple of days around MP, then fly to Lima and down to towards Torres del Paine the following week.

My concerns are the high altitude in Peru along with heavy winds in TdP one week after the other.

Would be first time visiting both countries.

Anyone try to hit both within two weeks?

Yes, that was my first trip to SA. What month are you looking at? I flew back from Punta Arena on January 20, 2009 and went from there to Lima and onto Cusco all in one leg, which was tough. (Had to watch Obamba's inauguration on a tiny B*W TV at the airport coffee shop).

Have you ever traveled to high altitude before? Cusco is just at the edge of where people start to have symptoms other than being out of breath.

You can get Diamox to start before you arrive which may help. Also, going down to the Sacred Valley to sleep for the first nights will put you just enough lower to ease off symptoms.

As far as how much time, I would want at least a week for Peru (you have to go through Lima). The flights between Lima, Santiago and Punta Arenas should be assumed to chew up a full day each way, if you even want to attempt that.

How much time to spend in TdP depends on what you want to do, if that includes hikes or the zodiac out to Glacier Grey (which can be cancelled due to winds). It is possible to do a day trip by van from Puerto Natales, along the south side of TdP, if you aren't planning on hiking. I think it is worthwhile to take the catamaran across the lake to Paine Grande, even for a day trip. If you can manage the hike to the Towers, then stay at the Las Torres end for two nights, since it's a full day hike.

I'm willing to hike to get to a place but not interested in hiking for the sake of hiking or trekking.

Honestly, if these all inclusive packages can get me to the scenic spots on a car, I wouldn't miss hiking, horseback riding or whatever.

But some of these are really expensive, like $800 and above a night. So you book 2 nights and what if the weather is bad both nights?

On Peru, yeah I heard one place near MP is at 8k feet and the other is at 11k feet so better to acclimate at 8k feet the first day.

I've gone to Switzerland but I don't think I spent a lot of time above 10k feet. Also New Zealand, took the heli hike of glaciers but I don't know if the elevation was that high.

In Torres del Paine, there are refugios also, not all inclusive. You may also find room only, or room and breakfast rates. But you are going to pay for being in a popular spot with a lot of people at the same time. And you will spend either time or money for transfers.

You can see the Towers only from a distance without hiking.

The Cuernos you get a good view from the south side, by road, or the catamaran. Glacier Gray you can take a zodiac.

It is also possible to go by van tour from Puerto Natales.

Ollantaytambo at 9000 ft in the Sacred Valley is my favorite spot for the initial few days. The train station to MP is there, also