This will be my fifth Houston-Austin MS150. Weather has been pretty good each year that I've done it, though I've heard a few horror stories from past years. Bike traffic gets a little hairy around the rest stops, and I'm told the start at Tully can be pretty awful. (I'm on a team that starts at the Conoco facility north of I-10, so I've never actually started from Tully.)
Motor traffic around the fairgrounds outside LaGrange gets pretty bad, so I personally suggest you just stay at the fairgrounds. It's a fun communal experience, anyway, particularly if you're on a team that has a corporate tent.
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Kicked out of the Webelos.