Did it supported last year. The East Alternative clockwise and then back to Burlington. It's very nice. Just be prepared for some good climbs and descents. Rochester Gap east to west was pretty brutal. Middlebury Gap was easier until the last few miles. Other than around the larger towns and in a few places along the lake the first day, traffic was sparse to non-existent. There are also some unpaved roads. Managed fine on skinny tires.
As VT notes, the state parks are nice. We spent the night before the first day of riding at the public campground in Burlington. Also stayed at Lake Carmi, Brighton (near Island Pond), where we saw and heard a loon, and Button Bay. Swimming was available at all three. Also stayed at Silver Lake, but that's off route uphill quite a ways. One private campground off route somewhere.
Our trip was catered, but since I do self-contained touring, I notice such things as food availability. Nothing close where we stayed except at Burlington (obviously), Brighton (Island Pond has a grocery store) and Silver Lake.