Blue Water State Park, NM (just west of Grants)
For those traveling I-40 in New Mexico (e.g., headed for the Albuquerque Balloon Fiesta) and looking for an overnight (or longer) stay just west of Grants, NM, there's a great State Park a few miles south of milepost 63 -- Blue Water State Park (35° 18.333'N, 108° 6.340'W).
The gate is open 6:00 AM to 9:00 PM, and it's OK to park overnight outside the entrance, if the gate is closed (late arrival).
The park has paved roads, and some sites have water and electric. Dispersed camping on shoreline is $8, regular sites $10, electric $14, water & electric $18. Dump station and fresh water available. (Fees as of 09/27/12)
Note: Exit I-40 at milepost 63. Do NOT use park entrance via milepost 53 and NM Hwy 612. That is the old park entrance on the southwest end of the lake, which appears abandoned. It looked like a real dump when we arrived late at night.