Newbie--question about driving into Telluride on Wednesday

My husband and I are excited to finally experience the Telluride Bluegrass Festival! We are staying at the Hotel Telluride, arriving on Wednesday (the day before the festival starts). I know there will be a traffic barricade at the entrance to the town starting at 4:00 that day, so we want to arrive before then. What’s the traffic like coming into town on that day? What time should we plan to be in the Telluride area if we want to get to our hotel before that barricade goes up? We are coming from Durango and hoping to drive the Million Dollar Highway to get to Telluride, but is that a mistake on that day (as in, do we need to be aiming to arrive really early rather than taking a longer route)? Thanks for any insight you can offer!