As in the other reviews, the trail does initially have a fairly good upward grade when beginning, which is true in either direction.
Hiking in the spring, when dealing with the snow runoff, it did have some water to deal with including one shin-deep crossing about 50ft wide. Some difficult footing was also present in the area of the actual ponds, with very narrow paths running parallel to hillsides, though this was the rare exception.
Scenery varies greatly, and includes dense woodland, sparse scrub, ponds and hillsides. The northeast section has some particularly beautiful vistas that are worth stopping to appreciate.
We did notice what I believe to be fresh wolf tracks a couple of times, but never encountered any wolf or bear on the trail. The more common concern would be the vast elk herds in the area, and it would not be difficult to find yourself suddenly in the center of a herd.
Due to the easy access and shorter length, expect to see a fair number of other hikers on this trail. Both entrances to the trail can be accessed by foot from the Mammoth Hot Springs hotel and cabins.