transpac,
The token is a small plastic black coin you buy from the counter. No automatic vending yet. Upon entry, you "tap" (just like Singapore only the reader is not on top but at an angle facing you) the token or bring within proximity to the entry reader and the gates will open. On exit, you drop the coin into the slot.
The 10B fare ended yesterday I think. It is now maybe 12 baht? Stored value pass available since I saw many people "tapping" away with cards instead of tokens. Probably the BTS pass but I don't know for sure.
Connection to the BTS is at Sala-Daeng, Asoke and the Mochit stations: however, the unfortunate thing is that BTS and MRT name their stations differently. The BTS Asoke station is right above the MRT station, the others require a short walk.