Americade is fantastic! (I live a couple hours away, so might be biased as well

However, the number and variety of bikes is incredible, the riding's great and Lake George is fun... a bit "touristy", but fun... I usually ride in/out a couple of days and don't stay in a hotel... Some years I've packed a lunch, gone up and just wandered around the parking areas to look at all the bikes (this took a few hours!).
I've bought a good number of accessories (Mustang seat, for example) and riding gear there over the years, just because there's such a good selection to choose from and I could try stuff on, etc. I can't say much about hotel costs, but since you might not know the area -- while there's tons of places to stay right in Lake George don't neglect Glens Falls or Saratoga Springs for hotels. They're ~25 and ~45 min south (respectively) of the main action in Lake George, but may have better prices.