I have a buddy with a house on Point Peninsula and have been fishing up there for many years. Chaumont Bay is a great warm water fishery, but it can be a bear at times. Lots of Smallies, a few LMB, Northern and lots and lots of perch. There is a weedy flat and then a drop off out in front of Shangri La which can hold all kinds of stuff, just be careful of the old piers just under the surface which may or may not be marked with buoys. The rest of the bay is an open book with tons of structure and miles of open water. The most challenging aspect is the open water fishing, which in my experience is where the big girls hang out. They are where you find them. Walleyes are mostly transient, but there is a limited local population. The transients are now moving back out towards the main lake, so if you want to give them a go, hang a right and try the structure at the mouth of the bay. It can be sporty out there.
As for watering holes, Shangri La is it for the Peninsula. Beer, burgers and fries. Chaumont and Cape Vincent are next closest. One more thing – unless your boat runs on water, get your gas on the mainland. Enjoy
Paul