Hi,
I climbed it back in November 2005.
The Route was staight foreward since so it is so heavly traveled. From the hut you cross a small glacier tounge then get on all this nasty frozen gravel before getting on the glaicer for real. This section simply sucked and called for still using crampons. Maybe with more snow it would be better.
Anyway there are a few cravasses to get over but none were too bad. When I was there there was this super sketchy ladder to get up a 20' wall of ice which was the summit bergschrund, its that big blob of ice you can see just below the summit. I've heard that in different conditions you can go around fairly easily but I feel that this was the most dangerous part for both the ascent and descent. We bleayed with pickets a few times.
Acclimitization is tricky in Ecuador, the towns are at like 10,000' and the hut at over 15,000' so the jump to the hut can simply wreck you. A few nights in quito, then heading up to the Illinizas. There is a really friendly guy in Lasso that has nice and cheap rooms, is climber orientated and has a a pickup truck transport into Cotopaxi park. Another thing, half way into Cotopaxi at around 12,000' there is an A-Frame hut and a small restaurant of sorts. You can spend a night inthe A-Frame hut (just a roof over your head) for cheap and go for mellow walks to break up the altitude jump to the hut, then hitch a ride the next morning up to the reguigo.
Have fun.