I happened upon the Lookout on accident, while hiking in Interlaken Park. (Some of the trails empty out above, in this park.) It seemed to be a run-of-the mill park, until I turned around -- what a view! The Cascade view is absolutely amazing. I would have stayed longer, but the young men drinking copious amounts of beer were a little scary, and there were no patrolling officers in sight.
Pros: the VIEW, great location, free, free, FREE
Cons: not well patrolled, a little scary