People do ride the old Monarch Pass road but you will share it with skiers. It drops to the west and to the Whitepine Road. The ride from Monarch Lodge to St Elmo follows the middle fork of the South fork of the Arkansas. It goes over Chalk Creek Pass. This is a narrow road up to treeline mostly used by skiers to get to the Lost Wonder Hut. The top of Chalk Creek Pass is the headwaters of several drainages and can be very confusing. Make sure you can find your way back if you drop in to Chalk Creek and St. Elmo. The trailhead has a guided snowmbile outfit across from the Monarch Lodge. You might ask them about the powerline rides South of the highway. I believe thats where they tour to. I've only ridden up to the hut but have skied to the pass a couple of times. Doable for sure but not sure if its worth it. Snow is thin up there right now. Park across from Monarch Lodge if you go, not next to the tour place- they'll freak on you.