I grew up down there and Old Town is a must do esp on Friday, Sat night they have a car show. Plus the general store has Pepsi's for .25 It isnt like Disney but it is a must do for our family, atleast once on our trip.
DH and I stayed in a hotel right in Old Town on our last trip and were very disappointed! Aside from the hotel itself (which had gotten excellent reviews online and we still can't figure out why!!!), Old Town just seemed kind of run down and almost ghetto. There was nothing special about it, we actually couldn't wait to get out of there. As for the car show, it seemed to bring some rather seedy characters to the area that we did our best to avoid. I'd say stick to the parks or the things to do in the I-Drive area and avoid Old Town.
It reminds me of an old town Fair. We very much liked it. The haunted house is awesome and scared us silly One character seeing how scared my son and I were said to holler "not so scary" We did and we got the nerve to move and get out!!!! Won't go back in again...