getting around Madrid(metro/bus)

I've heard about this card that you can get that gives you unlimited rides on buses and the metro with a monthly price you pay. So, I was planning on getting this while in Madrid but then my friend told me that it can take 2-3 weeks to get the paper work done??? is this so?? Since I'm going to be there for only 6 weeks it really wouldn't be worth it. So I'm now looking in to buying the METROBUS10 that gives you 10 rides on either the bus or metro for about 5 euros..anyone have any experience with this???
Also, has anyone ever encountered the 'revisores'(the officers that check for your metro ticket) in the metro????

The monbthly card called Abono Trasnportes can be bought at any 'Estanco' stall and you'll need to fill the personal data in the card and your picture or color photocopy of a picture and 1,20€ (probably a bit more on 2004). If you are under 22?? and ask for Abono Joven which is cheaper than normal you'll need to show the documents that confirms your age, DNI, or passport (may be a photocopy too). You'll need to indicate your area for the card, A, B1, B2....

They'll give you the card at the moment and you'll only need to buy the monthly ticket.

Make some calculations to see if you really need the card or is finally cheaper buying 10 travel tickets.

It's rare to find 'revisores' but i have found them a couple of times in the normal metro network and a few more in the places where you change from A zonce to B1 in the line 10.

And if you are thinking about entering without ticket, there is normally some guards at stations and in some places you'll need the ticket to get out the metro network.

thanks vdiaz! I think that the abono will be better because I know that I am going to have to take a combination bus/metro ride to and from school everyday. Plus, not having to worry about keeping up with how many rides I have left on the 10metrobus ticket would be nice. Well, thanks for the advice!!
saludos..PFitz