I went to Gulmarg and Kashmir in Ist week of Jaunary 2007 , This is season for Winter sports. Good things :
1) Lots of snow and very beautiful Place..
2) Nice place for Skiing and cheap one also one can rent Skiing equipment for Rs 100 a day.
3)Must visit Gondola and Afarvat Peak , its really breath taking view.
4) There in general perception that in Gulmarg there is lot of terrorism , but its wrong.This place is heavily guarded by Armed forces and is very safe.
Cons :
1) Hotels are really bad , I stayed in Sahara , this one was really bad.Try staying in JKTDC huts these are good ones.
2) Guide are cheats , never ever hire a guide
3)Sledge ppl have really created mess out there , its easy to travel area by foot even in snow.
4) Its really cold in evenings and most of hotels are not equipped with appropiate heating and water arrangement.