I am on the lake a couple of times a week typically. As mentioned, for recreational boating you will want to stay south of 155 bridge (even that gets iffy when the water drops, but it is good right now). The arm southeast of 155 bridge is called Saline Bay, you can stay in that arm all weekend if you are just there for recreation boating.
I am sure there could be gators on the very north end, but I have yet to see one and you would never want to go up there anyways. Never seen gators on the South end or even mid lake.
And I will go ahead and say it, the areas off the lake are what people think of when you say East Texas People. Ever since Coffee Landing burned down there is no reason to visit anything around the lake, except maybe the burgers at Lake Palestine Resort.