Wolfcreek pass is not a problem, 4 lanes, great new road, and the grades are rather modest, 6% I think. Where are you staying in Durango?
I would ride north from Durango to Silverton then onto Ouray, then head SW to Telluride and continue to finish the loop. From Ouray back to Durango is a nice relatively flat ride. Most interesting part is from Silverton to Ouray. Be sure to take some time in both cities.
We also enjoy the Bar D cowboy show in Durango.
2011 Toyota Tundra double cab