Actually Machu Picchu itself is closed, not just the train line from Cusco.
I've heard on a few forums that they have actually place guards around the site, and people that had hiked in (via Santa Teresa, I believe) were actually turned away from the site itself.
Both Machu Picchu and the railway both sides of it will no be open until April 1st.
This site explains all the details very well:
... to visit this magical place. Cusco isn't a place one should visit in a hurry; the chances are that you won't go back there so why don't you take your time to really enjoy this destination?
If you can't spend there at least 5 days you'll regret it.
Tipón is an archeological site with great terraces and an irrigation system from Inca time that still is in function. The water is spread out on the terraces in a ingenious way, you better have to take a look!
Pictures, see my Oropesa-pages:
Favorite thing: Legend has it that the Inca came from the Isla del Sol, Bolivia. Today, this modern tourist attraction is jammed pack with travellers. As modern archeology evolves, so does new theories into the creation of the Inca empire. One new theory suggest that the Inca empire emerge not from Isla del Sol, but from the Pyramid type formation found across Ollantaytambo. One has to visit the Sacred with an open mind and a good set of eyes and ears. You never know what you're going to find :)
We didnt really think of coming here until we started mapping out a plan of our independant walking...more
Av. Hermanos Ayar Mz 1 L-3, Aguas Calientes, Sacred Valley, Peru
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Carretera Picas Ruinas,Sacred Valley, Sacred Valle
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