I would definitely agree with Michael -- Yellowstone really deserves more than one day. If you don't get that extra week that you want, you might want to take Yellowstone and Grand Tetons off this trip and put them onto another trip. That way you can enjoy the rest of the parks a little longer.
Yellowstone is HUGE. The speed limit is about 30 mph. There are four major geyser areas, and they all have several miles of boardwalks that just call you to walk them, gaze into the hot water and look at what's under it, watch the steam rise, and take gorgeous pictures. We were in Yellowstone this past summer and took 3 days: Day 1 was the northeast quadrant, Day 2 was the southern Grand Loop Road, Day 3 was the northern Grand Loop Road, and everything that was along those roads. Day 4, we left Yellowstone and spent that in Grand Teton, another place that deserves at least a full day. If you want to hike, it takes time to even do a mile-long nature trail. The basin where Old Faithful is, has over 6 miles of boardwalk. You also have to have the time to wait for Old Faithful to erupt. It's about every 90 minutes now, and if you arrive right after it went up, you'll have an hour and a half to wait for the next one.
Donna