As nomad mentioned, I was rather inspired by his efforts up in the Cottonwood drainage and decided to see if the line could be accomplished in a days time. On Saturday, we approached the line via the Blackmore trailhead, and to make a long story short, the line is entirely feasible in a day. Snow and weather conditions on the approach and on the line itself were less than ideal, however, and prevented us from accomplishing the goal, which was to ascend the peak from the east and drop down to the rappels which would lead us to the line. We determined, however, that by approaching straight up and over the Blackmore/Cottonwood saddle and staying high on the traverse around the Cottonwood drainage would allow for a very mellow approach/ascent of the line/peak. Gear included a 60m rope, some cord for anchors, and one tool each. The entire ascent of the peak is protected by trees, thus reducing the stress and lowering anxiety (the line itself provides plenty of this). We were turned back by extremely high winds and piss-poor snow conditions (wind fucked, slabby in some spots, sugary in most others), but we did get a good look at the line and approach (a little too close to walk away without feeling cheated, actually). But, as is always the case, the line is not going anywhere, and I plan on returning in the near future to execute the whole thing now that approach info is fresh in my mind.
The line is somewhat intimidating to look at but is truly an inspiring feature on an already impressive peak. If interested, I would encourage anyone with a strong skiing and mountaineering background to give it a shot. In my mind, the history of this line represents the evolution of our ventures into the mountains. It's inspiring to see two motivated people tackle a line that has such an elusive and mysterious history and to succeed on it. And, in all actuality, it is truly doable- this, however, is NOT to say that the line is to be taken lightly. There is still potential for very serious consequence.
At any rate, that's my .02. Congrats again to nomad, and good luck to future adventurers!