Yes,I've bank fished there many times over the years.If you are willing to walk about 15-20 minutes you can go in to the east end of the lake and avoid most of the crowds and have very good fishing.A lot of small trees have grown up where you have to walk since I have been in there.Once you are in there you will be past the trees.
Not really any "trails" to speak of, it's just typical open sage brush country. You can pretty much walk anywhere you want to. You should be warned that the wind can really pick up over there and doesn't make the walking all the much fun. They could always drop you off and venture up the hill to the Wild Hose Monument, or go back across the river to the petrified forest.
There is a (rough?) road access from the south to the trail that runs along the summit of the Saddle Mountains; as I recall the trail begins near the antenna array on Sentinel Mountain. The last time I was there was a long time ago and I don't recall the details. There must be a trail guide for central/eastern Washington that would give directions.
ran into a biiiiig rattler sight fishing bows in the inlet to blue lake couple years ago, i was casting and walking while following a nice fish and i looked onto the beach. fully spread out sunning, at least 5 foot long. id say that fish was pretty damn lucky.....