One thing that can't be stressed enough is warmth. It can get cold at night. It is not unheard of to have frost on your tent. Have even seen snow one year. It is possible to mail some gear ahead to the post office in Telluride. Yes, you can take a blanket/tarp to sit on. But you need to take a a day or at least a half of a day to "tarp hop".
"Tarp Hopping" is almost a sport there. Take your chair and hop from tarp to tarp stopping to say hi to everyone along the way, make a couple of friends while your at it. Just to see if you can make it all the way across the field in just one day.
There are plenty of places to get a cheap chair along the way to Telluride. If you don't mind me asking, are you riding with friends? Or planing to rent a car at the airport? The only reason I ask is the Shar-a-ride is a great option. I give rides every year, best way to meet new friends.
Listening to:
Greensky