Rode the course course as part of the Battle of Waterloo the last 2 years. Rolling would probably be the best way to describe it. Well paved and lots of straight-aways to hammer things. I don't recall more than 3 or 4 cars on the first 3/4ths of the course, a few more coming back to the park. I volunteered doing kayak support on the swim course for Epic's female only 1/2 iron event last year and swam the lake for about an hour afterwards. Pretty mucky getting in for the first 10 feet or so at the beach and the lake was not very clear. However, the lake itself was easy to swim and few weeds once away from shore. Epic also had an Oly there and they did a clockwise swam square course. There is a building on the hill above the beach at the park that will give something high to site if needed. It is a really long run up to transition. I saw a few racers leave shoes at the beach for the run up to T1. If you are travelling in for the event, I really like the campground there. Very clean facilities and very quiet the two nights I've stayed there.
ETA, forgot to add something about the run course. It looks like they are using the trail for about 1.5 miles out of T2. Nothing real technical, but there are some ups and downs. If you are there the day before for PPU, I'd walk it just to get a look.