Changing horses in midstream is never recommended, but sometimes it's unavoidable. That's the case with the one-of-a-kind Telluride Film Festival, founded in 1975 by Bill and Stella Pence, Tom Luddy and James Card. An intimate four-day buffet of tributes, premieres, restorations, and revivals laid out in the Colorado mountains, Telluride is an oasis for film lovers. The deal-making, gossip, and financial chitchat endemic to Cannes, Toronto, Berlin, and Sundance are absent and art (and the art of the anecdote) take center stage. At the end of last year's conclave, however, the Pences announced their retirement and handed their share of the reins to exhibition veteran Gary Meyer. The fest subsequently consolidated its headquarters in Berkeley and enters a new era as the curtains go up Friday on the 34th annual bash. What changes lie in store? Michael Fox reports.