Most of VCNP's hazards are weather-related: Lightning is a common hazard during the monsoon season July-September when you are on ridges or in open land, and can occur during other seasons as well. Be sure you know what to do when lightning threatens. Winter storms can roll in quite suddenly and can produce not only several feet of snow in short order, but also precipitously dropping temperatures that can easily reach below zero Fahrenheit. If engaging in winter sports, make sure you're well equipped. VCNP and the surrounding mountains have been the site of a number of disastrous forest fires in recent years, particularly in the spring when precipitation is minimal and winds are high following a dry winter of which there have been many lately. The Preserve administration is understandably cautious about closing facilities when fire hazard is significant; please honor the closures, as the Valles grasses burn like tinder and a wind-driven fire can travel a lot faster than you can run. Of course, make sure to use sun screen.
Dangerous encounters with wildlife are rare, but an elk in rut can do a lot of damage to you closures during mating season will probably keep you away from this hazard, but bear it in mind, and one on the road can do a lot of damage to your car. Drive cautiously, particularly in twilight. Rattlesnakes are scarce owing to the high elevation, but can be found occasionally in the summer, even on the ridges.
Violent crime is a non-problem, and there are few if any reports of theft from parked automobiles in the preserve. However, some of the neighboring forest land has seen some pilferage. If you're camping in Santa Fe National Forest campgrounds, make sure to secure valuables before heading into VCNP.
Visitors from sea level may have problems with altitude sickness, as even the Valle Grande is at an elevation near 8000 feet and the mountains range up to 11,000' and above. If you're prone to altitude problems, spend a day or two acclimatizing in Albuquerque or one of the other New Mexico cities before you do anything active here, and plan a slower hiking/skiing pace than you would at home.
fees/permits
The VCNP was setup as an autonomous wholly owned corporation within the National Park system. The Trust structure, with a board of directors that manages the Preserve, is an experiment in land management. The experiment will be reviewed in 2015 by Congress. One of the criteria of success for the Preserve is that it be self-sufficient by 2015. Another is that appropriate public access be established.
The fee structure at VCNP is one of its many unusual features among United States national parks. Access to the preserve via SR 4 is free, and there are free hikes, Nordic ski outings, etc., from trail heads along SR 4 free permit. Most activities in the interior of the Preserve, however, are on a fee basis, with fees ranging from $6 for half a day of Nordic skiing, all the way to $150 for birding, painting and other classes that combine with overnight stays at the Casa de Baca Lodge. Most fees for unguided day use are of order $10-15 youth and senior discounts apply, with some additional cost for guided hikes and skis. The VCNP web site, (http://www.vallescaldera.gov/) , has details.
Another unusual feature of VCNP is that it is one of very few major national park/preserve sites at which hunting, on a restricted basis, is allowed -- specifically, elk hunting, as the resident herd is in constant need of culling. A limited number of permits are issued each year, on a "lottery" system: would-be hunters buy lottery tickets $5 each that provide a chance of getting to hunt, with the actual hunters chosen before the beginning of hunting season and paying an additional fee for the actual hunt according to a complicated allotment system and a random draw of lottery entries. The web site has additional details. Fishing is also on a lottery basis.