From Mansfield, you are actually pretty close to Wheeler Branch in Glen Rose and it is popular with the Kayak crowd. Yesterday, even with looming storms making their way toward the area, there were about 8 or 10 kayaks out on the water in the pre-noon hours.
It is a trolling-only lake so that, too, makes it very nice for kayakers. And, it is likely the clearest water you'll find on any lake near the Metroplex.
Fishing? It can be a very productive fishery with a nice population of LMB, some SMBs and walleye. And, it is a good catfish lake I hear.
Of late, it has suffered from all of the new water, in its case water being pumped in from the Paluxy River.
7AM until dusk every day but no overnight camping if that was what you meant. But, there are areas outside of the lake for that.