Great spot and you can't get much closer to Weirs Beach!
There is something for all ages there from a beach for the kids to a little bar on the island for the big kids. You can watch the parade of boats all day long!
It might work to rent several cottages so that different segments of your family can have their own space. I know they have a condo across the street that they rent too.
http://200mail.com/cpi/channelcottages/