I just went to Toledo on a day trip from Madrid a few weeks ago. The bus station is at the Mendez Alvaro metro stop. The bus line I took was Continental. They leave every half hour & it's a 45 minute ride (ask for 'directo'). The cost was 4.15 Euro each way (8.30 round trip). You just walk up & buy the ticket each way, no need to reserve in advance. The historic section of Toledo is very compact, easily done in a day. Tour guides may be helpful, but not really necessary. I had a Frommer's Madrid & a Rick Steve's Spain/Portugal guide book & that was enough to set a full day itinerary.