We hike this trail every other summer, as a two day pack trip. Go during the week, bacause on the weekend there is so much traffic on the cables, that it can take as a much as an hour to do that last 1/4 mile. It makes a nice two day trip, making camp in Little Yosemite Valley. Take the Mist Trail, make camp and than take a swim in the river. In the evening you can share one of the two communal camp fires and meet people from around the world. Rise early on the second day, and take the 2 mile hike to the top, which, if you get an early start, you'll have all to yourselves! You can come back down, take a last swim, grab your pack, and be on the valley floor by late afternoon.
Watch for the bears though - they are agressive. You'll want to remove everything, including lotions and sunscreens. Thankfully, there are bear boxes at the campsites.