On one of Renfe's magnificent high-speed trains, the trip from Madrid to Toledo takes only 30 minutes and a return ticket costs about 15 euros. There is a train every hour from the Atoche Renfe station (reachable by the metro stop of the same name on line 1). If you buy a return ticket (ida y vuelta), you can leave the return time open and set it at the Toledo station when you're ready to go.
For my visit, the weather was chilly and rainy, but a trip is a trip. To me, the best things about Toledo are: marzipan, architectural detail and craftsmen. If you're after souvenirs, look no further. Overall, the restaurants seemed even more expensive than the ones in Madrid, but there are some with reasonably priced raciones that are easy to split among a crowd.
The upshot of the rain was that when it finally stopped, the sky was a brilliant blue and cast a beautiful mix of shadows on the buildings.
This statue of a woman praying is near the Toledo Cathedral. I'm trying to find information on who she is and who sculpted her, but as of yet various internet searches haven't yielded much.
"No cows!"
More pictures of Toledo coming soon to the Madrid gallery...