In response to NormalILhiker's reply:
My friend and I hiked this trail as a day hike on 11/06/05, using the Derrick Trail to gain access to the Highline first.
As Joe estimated, from the Highline Trail juncture the hike up is short and steep, but not "nail biting". At the bottom, 278 was clearly marked as three quarters of a mile to the top, and the trail was easy to follow most of the time. The one exception to this was where some fallen trees and overgrowth seemed to hide the trail about two-thirds of the way up.
It can get windy at night on the edge of the 'Rim.