Having been coming to the lake for almost 30 years, I can say having stayed on both the mainland and various islands, the island experience is more "real", for lack of a better word. I know that's not very good.
We finally bought a place on Rattlesnake Island after looking for several years.
It's nice to be away from cars and the whole "hubbub" of normal life.
On the island, you are much more subject to the weather. You have to plan better - can't just "run out to the store" and get something. Power sometimes goes out, etc. etc.
But, the vacation / lake "experience" is really good. You're right there, surrounded by water. You use your boat everytime you go somewhere. You get to know your neighbors because you depend on each other at times.
And, the prices are much lower on islands than on the mainland.
Sleepers is nice. We looked at several places there. Finally chose Rattlesnake, mostly because the hiking is really good over here, and we found a place with a pretty flat approach.
There is a cottage in this part of the island (on the peninsula, AKA the "thumb") coming up for sale (no, not mine and I have no affiliation with anyone connected - just informational) if you're interested, I'll pass along your info to the owner.
Islands aren't for everyone, but if you're an islander at heart, there's nothing like it. I got bit by the island bug 30 years ago