VCNP is more of a "Do" place than a "See" place, but expansive views of the preserve can be found all along NM SR 4, which runs along the southern edge of the Valle Grande. Bring good binoculars and a telephoto lens; the valley is much bigger than you think it is. If passing by during the summer, you'll probably have a chance to see elk grazing in the Valle, right alongside and sometimes intermingled with the cattle that spend the summer there as part of the preserve's money-making mandate.
wildlife viewing
The Preserve operates van tours during the summer that afford opportunities for wildlife viewing, including possibly up-close-and-personal encounters with the huge resident elk herd. Tours cost $30 per person and are reserved via the VCNP web site. Note: some sources give a departure time of 2:30 p.m. for these tours - this is incorrect. Departure from the visitor center is at 4:30 p.m., with check-in at 4:00. Since many of the larger animals of the Preserve are crepuscular i.e., active at dawn and dusk, you wouldn't be likely to see much of interest in the middle of the day even if a tour was operating, so accept the later departure time in the interest of seeing more wildlife.