Fantastic views, great location - walked across to the Pavilion and did the Lake Hayes Loop 3 times, and only needed to use $12 of petrol over the course of a week, and still got everywhere I wanted to go!
Of course the road is noisy, but it is as described in the listing - so if you are a light-sleeper at all take ear plugs - and an eye-mask if you need complete darkness to sleep.