Ok..I've tracked down some of my previous posts that may help you out with planning. A number of hotels/BB's on the Island are good, but some are much nicer than others. I cannot recommend Main Street Inn and Suites enough.
I do not recommend Mission Point Resort at all. Not one bit. And I speak for the 17 couples who were there in October 2006 with me on a retreat. Everything that could go wrong actually DID go wrong, including lost luggage, front desk telephone calls to rooms at 1am to see if you were the one snoring, to charging room accounts incorrectly, to old, nasty mattresses that were lumpy. Run. Run away! At least until they can pull their act together.
I'm not sure how much has changed as far as the increase in rates for the 2007 season from the 2006 season, but here's what I copied from previous posts:
On the Island, I highly recommend staying at the Main Street Inn and Suites. We had the deluxe interior room (no window, but a skylight) and loved it even though it was the smallest room and the least expensive.
I do not recommend Mission Point Resort to stay at, although I can recommend their breakfast buffet (approx. $13/person). We were just there in October 2006 and with recent changes in management, it was not a pleasant stay.
I posted this information regarding the Island last year, so I'll post it again if it will help with planning:
This link brings you to bike rental shops:
http://www.mackinac.com/content/services/rentals.html
I rented an adult bike with a tag-along for my son and we biked the 8.3 miles around the Island with no problem. My son is 10 years, with special needs, so that should give you some idea of the ease of the perimeter of the island. It takes approximately 1 hour to bike the perimeter peddling almost the entire time. We rented from a store called Del Ray Sol (I believe that's the name) and paid $11 for the hour for both the adult bike and tag-along. A deposit is left at the time you take the bikes, which is only charged to your account if you do not return the bicycles. Most of the bike rentals will provide helmets for the children. Tandems, child carriers, child seats, and tag-alongs can be rented at the various rental places along Main Street.
If you want to ride a horse, Cindy's Stables do a nice job. My daughter rode for an hour with a guide, helmet included, and had a very gentle horse. The fee was $30. I would recommend an earlier morning ride, as the horses aren't as tired.
http://www.cindysridingstable.com/
You can rent a drive-your-own horse and buggy here:
http://www.jacksliverystable.com/
I believe it's approximately $60/hour for a family of four and its a nice way to see some of the island.
You can also take a Carriage Tour of the island.
http://www.mict.com/
Private tours will cost $80 for a family of four for an hour, and they usually bring you up and around the road in front of the Grand Hotel and then along the homes on the West Bluff.
You may not enter the Grand Hotel unless you are a guest or pay a fee of $12.
The Butterfly House is a nice place for the children. It's small, but they will let you return as many times as you wish while you are on the island. We were there for three days and we had about four trips to the Butterfly House.
http://www.originalbutterflyhouse.com/
The Fort is really neat. If you plan on being in the area for a few days, you can get a Family Heritage pass for $59 that will allow you access to Fort Mackinac on the island, as well as Colonial Michilimackinac, the Old Mackinac Point Lighthouse and Mill Creek in Mackinaw City.
Ferries are all pretty much the same price. Adults run $19-20, while children are about half price. The ferries that run are the Arnold Line, the Star, and Shepler's. Ferries take approximately 20 minutes, with Arnold running catamarans and the Star line runs the ferries that shoot up a "rooster tail". Each ferry line has their own website and I believe all of them have coupons on their website for buy two adult tickets and get a child's ticket free or $9-10 off a third adult ticket.
As for restaurants on the island, I would not give a good review for Patrick Sinclair's Irish Pub. The food portion was tiny and the service was below par. Goodfellows at the Lakeview Hotel had pretty good pizza, as did 3 Brothers Sarducci on Main Street. Prices for both pizzas ran approximately $22 for a large with three items. Village Inn has fairly decent food. Nothing spectacular, but good. There is also a coupon at Restaurant. com for the Village Inn. Yankee Rebel Tavern is a really nice place also. Fast food places are abundant on the island offering burgers and chicken tenders. These will mostly run you about $5-6 dollars. Scalawags and Darrows in Mackinaw City are a must-do for whitefish and pie, respectively.