All of the above is good info. EmmCeeBee's idea of going from K Falls is a good one. There is a lot less time spent on Hwy 97 that way. It will bring you into the Park through the South Entrance. There might be some other thoughts on this, but I like to ride the Lake clockwise. There is a pretty steep 3 mile hill from Park Headquarters to Rim Village, but the rest of the route seems a little more " user friendly" that way. If you come in from K Falls ( South Entrance), there is camping at Mazama Campground just inside the Park. It is a 33 mile ride around the Lake.
You might also want to check with the Park about the roads. We tele-ski Llao rock every 4th of July and there have been times when the road was still not plowed all the way through. If you are riding and camping around that time of year don't forget to bring your mosquito repellent.
Either way is a great ride. Enjoy!