Thanks everyone for all the information again. I am now at a place called Saguache and need to decide which way to go. The 285 and then the 50 over Monarch Pass or the 114 directly to Gunnison. I am tempted to go the 114 but will listen to advice. You guys have been really helpful and when we get back I will be boring you with the details of the trip! Next decvision is what type of car to hire.
I have not travelled on the 114, but the ride over the continental divide at Monarch pass is very pleasant and a good place to stop for the views and store. There is also the Mornach crest gondola ride during the summer months. Some info here.
A lot will depend on your plans and timing for the other part of the day and knowing your options is great, but some things can be left open to change as you are on the road. It will take about 45 mins longer going via Poncha Springs plus any time spent at Mornarch, but is still under a 2.5 hour drive.