This is a good spot for shorebirds as well as passerines in the woods. Occasionally the dirt road will have some birds of interest so roll your windows down to listen as you drive in. A scope is almost always a good idea here as the birds tend to gather on the other side of the lake's inlet. 

American White Pelican, American Avocet, Roseate Spoonbill, ducks, cormorants

The gravel road is VERY bumpy and full of deep potholes. There are often folks fishing from the shore or putting in/taking out fishing boats.

When the lake is down, this becomes a separate body of water from Lake Waco. 

When the lake is at a normal level, there are more shorebirds nearby but also more boaters as they now have access to the whole of Lake Waco.

Lake Waco is a man-made reservoir located on the west side of Waco, in McLennan County, Texas. It provides water to several cities in the Waco Metropolitan Statistical Area, including Waco (pop. 135,858), Bellmead (pop. 9,901), Hewitt (pop. 13,368), Robinson (pop. 10,509), Woodway (pop. 8,452) and others in the Cross Timbers and Prairies ecoregion of Texas. Lake Waco was formed by a dam built on the Bosque River basin. The lake has 79,000 acre-feet (97,000,000 m3) of water and is managed by the U.S. Army Corps of Engineers.