The difference in height between the highest col betwen a neighbouring paeak and the peak in question, is often used to determine whether or not a peak should be called a summit (otherwise, how many summits on the Grandes Jorasses, for example!)
I've spent a night in the Balmenhorn bivouac, as part of a traverse from the Dufourspitze to the Breithorn; from that point of view, it's extremely well situated, and a very worthwhile outing.
Worth noting is that there is of course no fresh water at the bivouac - you must melt snow.
be careful, the punta indren cable-car is now CLOSED!
now you can use Monterosa Ski lifts, from Alagna to Passo Salati (Col d'Olen), but not directly to Indren
The lift is: Alagna - Pianalunga
and Pianalunga-Cimalegna-Salati mt 2980
the official pages with opening times: http://www.monterosa-ski.com/index.php?option=com_monterosaski&Itemid=942
official page for Bivacco Giordano, of CAI Varallo:
http://www.caivarallo.it/rifugi_cai_varallo/bivacco_giordano.php
for the Gnifetti hut there is the official page:
http://www.caivarallo.it/rifugi_cai_varallo/rifugio_gnifetti.php
and booking form in english, french, german:
http://www.caivarallo.it/prenotazione_rifugi/hut_booking.php