The last place I expected to find myself this week was at a newspaper "launch" party.

After all, my annual mid-December ski trip took on an added imperative this year as I sought respite from the stressful work environment at a newspaper suddenly put up for sale.

A day on the slopes at Beaver Creek on Monday gave way to apres ski at Pepi's in Vail Village, ordinarily ground zero for skiers and visitors. Happy hour that day was sponsored by the Vail Mountaineer, a 2-month-old free daily newspaper founded by the publisher of the freebie Denver Daily News. It now competes with the more established Vail Daily, also free at seemingly every store counter in the valley.

"I haven't slept in a month, but I am having the time of my life," associate publisher Erinn Hoban told me as she handed out stickers and T-shirts.

I wished her well. Sincerely. Glad to know there's still a newspaper war somewhere in Colorado.

After five days in Vail Valley this week, my jury is still out as to how much the financial meltdown will affect the ski industry, particularly its highest end, exemplified by Vail.

A study done by Boulder- based RRC Associates came out in August with the conclusion that the ski industry will continue to thrive in a tough economy if there is abundant snowfall. It was based on data gathered nationally last winter, when there already was ample evidence of a recession. In fact, the National Bureau of Economic Research ruled early this month that the U.S. economy has been in a recession since December 2007.

In my first attempt at skiing since some minor knee surgery in September, I was hoping for early season snow - groomed runs I could glide down with little effort. Instead I was greeted by 14 inches of powder at Vail's sister resort Beaver Creek on Sunday. I struggled. The slopes were full of skiers but not enough for lift lines. That's one of the joys of mid-December skiing, which I have indulged in for 25 years.

My Monday copy of the Mountaineer told me that the Vail parking lots were full, and more than 300 cars parked on a frontage road both weekend days. Vail Transportation Director Mike Rose told the paper that 700 cars sometimes park on the frontage road, with as many as 1,200 on peak days. Still, it was a healthy early season crowd.

Other signs were not so healthy. The village streets seemed dead, the shops pretty empty. After skiing Monday, I had my pick of tables at the Red Lion on Bridge Street in Vail, something I haven't seen in 15 years. It's always been elbow to elbow. Same with Pepi's, where there were plenty of empty tables.

With a swollen knee, I took Tuesday off, and my buddy and I went to check out the new Lionshead area in Vail. The old gondola was torn out and moved closer to the mountain, leaving a good chunk of land to redevelop.

I'd never been impressed with Lionshead. There was no there there. Now there is. The Arrabelle at Vail Square hotel and condo project is spectacular. I would venture to say it is one of the most impressive buildings in Colorado, bar none. A pedestrian plaza features high-end retail, fine dining and an ice rink with its own Zamboni. The dinner menu at the Vail Chophouse there features "Chophouse Burger (10 ounces of certified Angus beef)and Dom Perignon for $275.

"Without Dom: $15." And you can get a nice 20-ounce Australian lobster tail for $79.

The original Vail Village is looking a little dowdy these days. The faux Tyrolean look is badly in need of an overhaul, and I suspect it will get one when the economy improves. Arrabelle, a half-mile to the west, is nearing completion, and it looks like the heart of a fine Euro resort. If Vail Village eventually gets a similar treatment, it should continue to attract worldwide wealth.

I remember skiing in the Vail Valley during the last recession and thinking: "There is no recession here. This place is for the super-rich. Their wealth simply does not fluctuate."

This recession is far worse, and we'll see if the same holds true.

The past few years, I've concluded that the focal point of Vail Valley has shifted westward, certainly to Avon and lately to Edwards. Not for the wealthy, but for the rest of us, whether we're residents of Denver or Eagle County.

Avon, at the base of Beaver Creek, is like Silverthorne in Summit County. Amid the resort splendor, you can get plumbing supplies there, and Mexican food, dive bars and cheaper lodging. There's a new Wal-Mart and a Home Depot in Avon - the nicest of either I've ever seen. The brand-new Westin in Avon, with its own ski lift, is a magnificent addition.

For my money, the best restaurants in the valley - if money is an object - are all in Edwards, five miles west of Avon. Juniper and Dish are putting out fabulous meals at reasonable prices, and there's always the old stalwart, the Gashouse at the original town intersection.

Edwards seems to have mushroomed overnight, with more full city blocks every time I visit. They are surrounded by single-family homes inhabited by valley residents, rather than second homes for vacationers. It's a genuine community. Full-time valley residents are moving in droves farther west to Eagle and even Gypsum at the mouth of Glenwood Canyon, in search of affordability. Drive till you qualify, as they say.

The resort economy is a different animal and Colorado sports a herd of them. Because tourism and resorts are utterly dependent on discretionary income, they are at risk in a deep recession. Will great snowfall make a difference? Up to a point, sure, but not if we're all flat broke or out of work.

Vail and the other ski resorts will be more dependent than usual on Colorado skiers this season. I suspect they'll be throwing deal after deal down the hill at us. If there's great snow, it would be nice to be able to respond.

I have a friend I grew up with in Wisconsin who honeymooned in Vail 20 years ago. He and his wife come out to ski from their home in Chicago every few years. For variety, I took them to Aspen one year, and they loved it. Last year, I suggested they fly direct into Steamboat, where my wife and I rented a slopeside condo. It snowed a lot, and we had a great time. But when it was time to part, my friend, Bill, said, "That was great, but I want to go back to Vail next time. Besides the skiing, part of the enjoyment I get out of these vacations is rubbing elbows with the richest people in the world and pretending I'm one of them. That's why I like Vail the best."

This ski season, pretending to be rich will probably be as close as we come. I hope I'm not pretending to be middle-class.

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