Absolutely gorgeous, if a little overused
This hike is stunning. Literally every time it's breathtaking. The trail alternates between young forest, older growth valleys with cascading rivers, beach, and stunning vistas from the cliffs.
Looking up and down the undulating shoreline is unreal, and every time you come out to the cliffside the view is changed and has its own unique features.
I've only done the 12 mile Mosquito Falls to Chapel Rock loop, but this summer I'll be returning to backpack the length of the lakeshore.
The falls are aptly named, so definitely be sure to bring bug spray (though the bugs weren't miserable in May so don't be scared off!)
I'd also suggest a poncho or similar, the weather on the lake can change quickly from bright sun to rumbling clouds.
The sites themselves suffer from abuse by rude hikers, waste isn't always taken care of properly, nor is used TP and trash. (This might not be systematic of everything, just the sites we saw that weekend.)