Excellent trails.
From Interstate 40, Drive south on NM Hwy 117 for approximately 8.5 miles from the BLM Ranger Station (17.5 miles from I-40) to the parking area on the left. The arch is visible from the road and the trail is only a few hundred feet long to a good view point.
http://www.tripleblaze.com/trail.php?c=3&i=8454