Could anyone recommend any scenic day hikes in central and southwestern Colorado? We're in good physical shape, but would prefer a moderate or easy hike.

My wife and I will be passing through the following towns in mid-August: Leadville, Buena Vista, Crested Butte, Ouray, and Telluride.

IF and a BIG IF, the road to Yankee Boy Basin is open and passable by a regular car or SUV, you can walk well up the basin for a long way. Or even take the road up to the ridge that over looks Telluride.
The basin itself is ringed with peaks and you will enjoy great scenery.

I have not been there in years, so I am hesitant to give out with a big GO.

The trouble with a lot of those hikes is the altitude. It has nothing to do with physical conditioning. I was in my late thirties, and in excellent condition for sea level, but it took me 10 days to acclimate enough to haul a 35 pound pack over a 12,000 foot pass.

There are really short hikes to a few waterfalls around Ouray; in Telluride you can hike up to a really pretty falls whose name escapes me right now. You can see it from several parts of "downtown" Telluride.
One of our favorite hikes in Colorado is Hanging Lake. The trail head is off I-70 near Glenwood Springs. It's about 4 miles round trip and a lot of it is steep uphill. There are 2 waterfalls that fall into a really pretty lake that is a blue green color.

This URL provides dozens of links to sites that discuss hiking in Colorado.

www.peaktopeak.net/co.html

Leadville is 10,000 ft elevation and the other place you plan to visit are about as high. Any walk will be an effort unless you have time to adjust to the high altitude. Take care and don't plan too much. Drink plenty of water and dress in layers as the Colorado weather can change at moments notice. Expect anything from the most beautiful weather possible to rain, hail, lightning, snow, etc. The day hikes are well worth the planning - just be prepared.

We live at 250 ft altitude and as much as we want to hike every year, we are never able to do much.

Last year, we camped our first night just outside Silverton and we got dizzy just setting up camp and cooking our dinner!! It took us a little while to figure out what was wrong with us.

It bothers some people more than others. Even though I have never smoked, it bothers me a lot more than my husband.

Another option is to rent a Jeep in Ouray and drive the mining trails. The area is famous for it . There are all levels (difficulty) of roads to take and the Jeep rental company can recommend what would work for you.

I would suggest Bridal Veil Falls in Telluride. I rarely ever hike and it wasn't too bad. You climb over 1,000 feet in elevation though so be sure to take enough water, sunglasses, sunscreen. The falls are beautiful, the mine is interesting and the view of the town below is pretty nice.

Most resorts have a book that lists details for hikes in their area. I've bought one for Vail and for Crested Butte. The best resource I've had is "Hiking with Children in Colorado" (title might be "Hikes...") I've used it a lot and even the hikes rated moderate for kids were plenty for us!