Hiked Cholla Trail twice last month. Easily one of my favorites - right up there with Piestewa Peak, Flat Iron and Picacho Peak. I really enjoy the scrambling and climbing to the top. And the views...awesome.
I happened to have my gloves in my backpack the first time I hiked Cholla Trail. Definitely recommend using gloves! I think a good pair of trail shoes are fine. I don't think you *need* hiking boots. I use my Saloman trail runners & have had no problems.
I'd also recommend going early. By 6am, if you can. The trail gets pretty crowded and parking can be a pain if you even attempt to get there close to 8 or 9am, especially during the weekend. The 2nd time I hiked this trail, we got to the top just before sunrise. Worth it to get started in the dark!