I may not be a Disney expert but I know Cedar Point!!!! First off, how long are you planning on going for? And when are you planning on going? Both of those make a difference in trip planning. CP generally opens early to mid May and remains open until at least Halloween. Once the park opens in May, it remains open daily until Labor Day and then it goes to only Friday nights and weekends. Weekends in May are busy (albeit not crazy), but weekdays are slow. The first couple of weeks in June are great time to go, as the vacation crowd has not started yet. The last week in August is known as dead week. Halloweekends (beginning in mid September) are insanely busy -- think hour plus waits for the smaller coasters which are normally walk ons.
If you're looking to go to Cedar Point and Soak City, CP offers many combo tickets (Ride & Slide). But depending on the amount of time you plan to stay, you may want to consider a Platinum Season Pass. This will get you into CP, SC, parking as well as access to all of the other Cedar Fair parks. Regular season passes will only get you access to CP. Both passes will give you ERT (early ride time) which allows you to ride an hour earlier on some of the coasters then the general public. CP does not have a Fastpass type system.
As far as staying, I can only speak to the Point owned hotel that I have stayed at. That being the Breakers Express. It's located on the Causeway and does not have direct access to CP. Meaning you have to drive. We have stayed there a few times and it's your basic, clean, two beds, bathroom room. We've always got a nice deal through them that included tickets, parking passes, breakfast and coupons for Challenge Park and upgrades to Ride and Slide tickets. The Breakers, Sandcastle Suites and
Lighthouse Point are all within walking distance to the park, as is Camper Village. The 3 hotels are much more expensive then the Breakers Express. Cedar Point resort guests also get ERT. Castaway Bay is CP's indoor waterpark. It's located just off the Causeway. I've not stayed there but have been to the waterpark, which is small but nice.
If you are looking to stay off Point, there are several hotels offsite in Sandusky and surrounding areas. The Cedar Point resort area offers many restaurants including Famous Daves and TGIFridays. The park itself has Chick-Fil-a, Panda Express, Johnny Rockets and Subway, as well as a few other sit down restaurants and tons of counter service and kiosk food stands. Soak City has counter service restaurants. Cedar Point also has two picinic pavillions in front of the park.
For trip planning information, you can visit the Cedar Point website and click on Planning and request a brochure. There is also a lot of information on the resort area on the website. There are a few DIS like CP boards as well.
If I can help with anything else -- ride info, park info, info on the area, please feel free to let me know. I'm mildly addicted to CP

I've been hundreds of times to the Point, so I know my way around pretty well!!