There is, or was, one timeshare in Albuquerque. It is largely privately owned, so exchanges are few and far between.
We, too, love the area. I lived in Albuquerque for a little over two years--and it wasn't nearly long enough. It's only an hour's drive from Santa Fe to Albuquerque, and there is lots to do in the area.
Ruidoso strikes me as a typical mountain vacation area. It's beautiful. There are quarterhorse races. It isn't far to White Sands and Carlsbad Caverns.