Bailey, CO sits just under 8000' elevation. With almost non-existent humidity it is quite nice at any temperature. August highs hit around mid afternoon, and will most likely be 70-80s. Possibility of afternoon thunderstorms, but typically hit and dissipate quickly. Fair warning, be prepared for early morning or late evening temperatures dropping to the 50s, so bring a jacket just in case!
YES! And no. Mostly you will recognize how dry the air is. You'll notice drier skin, dry lips, and will need to consume much more water than you normally do. Common symptoms from dehydration are headache, dizziness, and fatigue. If you plan to take a hike, elevation rises quickly and you will notice shortness of breath and fatigue. Stay cool and hydrated to help. Bring chapstick :)
Oh yeah. If you are an alcohol drinker, you will be affected quicker. It will take less alcohol to get you drunk. If you want to know the physiology behind it all, look it up. Otherwise we recommend drinking a glass of water equal to each adult beverage.