It has a bigger drop than Niagara Falls! We were there in May shortly after the dam was opened up fully for the season. In the Spring, they open the dam to take water OUT of the lake, so that when the ice melts, the lake's volume can be controlled. If you can see this dam in May or June, it is truly an amazing and beautiful site.
There are 360 +/- steps that lead down (and of course, then back up) to it, so be prepared for that. The steps are well worth it though, once you see its magnificence. Truly a sight to see.