It's too bad to hear that the Metro is going downhill in terms of quality. That system is/was often ranked as one of the best in the world - I enjoyed using it during my visit a few years back.

Hopefully the voters will decide to be taxed enough to support a better system. Europeans tend to be more sane about this kind of thing than voters in the US.

It sounds like money is a concern here. 23€-33€ might not sound like a lot but with the current conversion rates thats $31-$45 (thats if they don´t cheat you). When you compare that to the $1.50 he´d spend on the metro I´m not at all surprised that he´d rather deal with the inconvience of the metro.

If your traveling with heavy and multiple bags be very careful. It´s not uncommon for elevators or escalators to be broken or simply not be there. This is going to mean a lot of stairs. Also I knew someone who got pickpocketed by someone who offered to help her carry her bags up the stairs because the escalator was broken. It´s best if you don´t bring anything that you can´t handle yourself. If you´ve got multiple bags full of valuable things then the taxi may save you money in the long run.

Having said that, I´m the first one in the taxi line after a flight from the U.S. as I hate the inconvience of taking the metro from Barajas when I just want to be home, but if your determined to save money take the metro. And yes it´s much cheaper to take a taxi from Nuevos Ministerios to your hostel then it would be from the airport, but once your in the metro system you may as well just stay there till you get where your going.

Just wanted to add: metro line 8 extension to Terminal 4 will be inaugurated just in a couple of days, on the 3rd of May.

Does that mean that the buses between T1 etc and T4 will stop running, once the metro is open, do you know?

I am not 100% sure about the T4 and T1 shuttle but I would assume they continue to operate as before. I understand they are operated by AENA (not EMT) and AENA does not report any changes:
http://www.aena.es/csee/Satellite?cid=1050046399945&pag...Name=MAD&c=Page&MO=1

I do know that bus line 201 (metro stop Barajas to T4) will cease to operate:
http://www.emtmadrid.es/novelties/novelties.html?id=667

Thank you for the answers and the info. on the broken escalators and elevators.

But a question about theft: For my passport and wallet/credit cards, etc. I have a money belt which hides under my clothes. But I'll also have an iPod in my pocket. I also plan on using my iPod a lot when I'm walking about the streets. You know any ways to keep it safe?

Also, as for my bags, I plan on either zip-tying or locking all the zippers together while I travel through the airport/metro, etc. You think this is a sufficient method to make sure no one reaches in and takes anything? Anyone know of better ways to keep my bags safe (I know I can't take taxis everywhere)? I also know that common sense helps and I've heard of a lot of the scams and tricks people try. So besides common sense, anyone else have ideas?

Daniel, one way I have heard of to keep an iPod from getting taken is to use different headphones. Thieves often look for those white headphones as a sign that a person has an iPod rather than a less valuable CD player, which is harder to steal. So use black ones, or maybe find a variety that doesn't have a cord (I don't know if these exist, just guessing). I hope this helps.

Thanks Ola for those links

DanielM, I only tie my zips together with string when I travel I'm sure if anyone wanted to get into my bag they very easily could, but I don't have anything valuable in them anyway. I do use a money belt on my way from the airport to the hostal, then put everything in the safe in the room. I never carry a bag when I am walking around Madrid, I put any cash I need in the front pocket of my jeans and that's it