Consultant: we go up to the park about twice each year. The park itself if so accessible it is very easy to get around and see things. The most popular hikes all center around Bear Lake Road. Going at least to Emerald Lake is recommended, but do so early as it is very crowded as the morning wears on. Bierstadt Lake from Bear Lake, I think is one of the nicest hike. As stated above, Sky Pond from Alberta Falls is spectacular.
From the Fern Lake trailhead there are a series of small lakes worth seeing. We like Deer Mountain a lot.
Take time to drive the park at dawn and dusk to see what animals are out. Last August on one day, we saw elk swimming in Lake Estes, moose, badgers, big horn sheep, an assortment of marmots, turkeys, and a bear stuck in a tree in downtown Estes.
If you have a half day, do drive at least to the Alpine visitor center and walk up to the top of the peak.
There are really nice hikes on the West side of the park. They all go to some view, waterfall or lake. Hiking guides are easily available to judge difficulty.
There is a free hiker shuttle from all the campgrounds to take you to all main trailheads to avoid parking problems. Lots do fill up by 8:30 or 9 during the summer.

Gig 'em Aggies!