It is definitely a long hike, and an amazing hike. Absolutely gorgeous view at the top of Boulder, Flatirons, western mountains, Eldorado Springs. It is 2.6 miles each way with pretty steep rocks the last mile to half mile. It is not something that you need to climb, but it would be wise to take come traction (cleats/microspikes).
The hike should take 5 to 6 hours and the forecast at the moment says 55 Degrees and cloudy, so be sure to pack a hat/ light gloves/ jacket for the last part of the hike. More information and reviews can be found at http://www.yelp.com/biz/bear-peak-trail-boulder
ADDED BY MOD:
This is a long day hike, so do be sure to bring LOTS of water, and some lunch/snacks for up top.