I have just had three very enjoyable days of sailing at LG with PG and Jimbob, and it was really nice. I took a few photos so I thought I should share my observations on the condition of the Lake.
For those who were there is 2015, I doubt you would recognise it as the same place. The water is still up to the road and the 5 Mile rigging area is a mess:
From the watermark, I'd say this area was about 1 meter under water!
The area just close off this spot is a clay bottom and is the only place I saw where the water is still a bit milky. everywhere else it is crystal clear and you can see the weed or the bottom of the lake as you sail. In this water level is is a terrible launching spot.
The Top Lake still has some shallow water in it, so driving around to Cockies is not on:

Here are some shots from just a few hundred meters East of the 5 mile where the bottom is Sandy and firm, the water crystal clear and the weed really thick. Also, it is deep enough to sail about 50 meters out with a 27cm fin.
Oh yes, and the water is really choppy!

Half way in between at the turning circle - I think this sign would have been under water at the peak!:

Clear water:
Lots of weed where Jamie says it was blowing sand a year ago!

Some lake views:

I had three days of great SE wind. the second day (Wednesday) had the strongest, when it got up to around 25 knots with short gusts to maybe high 20's. Even in the middle of the lake near the monitoring station, the waves were only about 20-30 cm, and there was only less than 10cm wavelets on the edges and between the islands. In the areas of the lake where it was chest deep, the weed growth was within 20-30cm of the surface. I was amazed at how much it has grown. A lot of it was .5m to 1m long, or more, from the bottom and really thick. Up the top of the lake (South East - closer to Beachport), where it was pretty much dry in 2013-2015, it was half a meter deep and weed almost to the surface.
Wednesdays Trackmap (Wind 20-25kts):

Thursdays Trackmap (wind 13-18 knots)
Unfortunately, this was not a good year for the good SE winds at LG. They were not at all as prolific as in the 2013-2015 seasons in January and February. The 3 days of SE wind this week were nice but not really the thermal winds of summer. Not as steady and consistent, and not as strong.
It is shaping up to have great conditions next summer. If the weather returns to it's more normal pattern and the Lake levels recede in the usual fashion, it may even be EPIC!

But even as it is now, with the right winds, it is better fun sailing than you will find almost anywhere.