It's very early on a Saturday morning (before 7 am). No Rush Hour. 99% of the traffic will be race participants looking for a place to park. The Manitou Police know the drill by heart and keep the traffic moving (no tie ups).
Use Google Maps (http://maps.google.com/). Click on "Get Directions" And insert your hotel location in "A" and "Manitou Springs City Hall" in "B" (race start location). It will give you the distance and time. I have found it to be quite accurate.