I benefitted greatly from reading all the other previous trip reports so I thought that I should post ours even though conditions are now pretty great and there is not much new to report.
We were three guys, all recently 50, all in above average fitness. The other two guys took Diamox, to prevent AMS, while I did not because we took the time to acclimate.
We arrived in Lone Pine on Wednesday afternoon and did a quick day hike up to Lone Pine Lake (10,000' and a little over an hour each way) If you take the Old Trail you avoid the stream crossing and shave a 1/2 mile off the hike. Ask at the Portal Store where the trailhead is located. It is not marked but the trail is in great shape.
Thursday we drove up to Horseshoe Meadows and hiked up to Cottonwood Pass (11,200'). This was a beautiful and fantastic hike that I would highly recommend. The drive up alone is a great experience.
Friday we loaded our packs and hiked up to Outpost Camp. It took about 2 hours, including a 20 minute break. We set up camp and then grabbed our day packs and hiked to the trail above Consultation Lake (about 12,000') this took us about an hour and 15 minutes. This was a great way to get used to the altitude without having to carry the heavy packs the extra couple miles to Trail Camp.
Saturday we started at Outpost Camp at 6am and we all made it to the summit at noon, taking some short rests along the way. We stayed on top about 45 minutes before heading down and then got back to Outpost Camp at 5pm, broke camp and made it down for a burger at the Portal Store around 7:45pm.
As others have reported the trail is in great shape and there are no troublesome stream crossings. There is still snow in places which is reason for caution and care but is nothing to worry about. Mostly it is either crusty or slushy. No postholing and not too icy. There is no need at this point for crampons or ice axe. I had them but left them in the car. Unless you are seriously into glissading, it is not worth it.
One tip for preventing AMS was given to us by Tom, a 64 year old ex-marine who summitted for his 9th time on Friday. He sucks on hard candy the whole way up and has never had any problems. I tried it when I started to feel a little light-headed and it definitely seemed to make things better.
The weather was fantastic. It was pretty cold at night and there was some wind-chill between Trail Crest and the Summit but otherwise very comfortable.
Our hiking times were at a relatively fast-pace and your own travel planning should account for the pace you think you can do. Friday night we saw some very shaky people hiking down in the dark.
Overall it was an awesome experience and well worth the effort!