In my trails book, this loop is called Disneyland for wilderness lovers due to the amazing views per mile. However, to enjoy this Disneyland you best have eaten your Wheaties and love switchbacks (aka STEEP terrain)! We entered from the Long Canyon Trailhead.
(1) If you are visiting during peak season, consider camping at Siligo Meadows rather than the lakes where there is little privacy and sanitation can be a problem. There are springs available in the meadows as well as established campsites.
(2) The loop requires about the same amount of ascending and descending whether done clockwise or counterclockwise. We did it counterclockwise, starting at Deer Creek Pass, descending to Deer Lake, ascending to Summit Lake Pass, taking the side trail down to Summit Lake and back up to main trail, descending to Diamond Lake, descending to Lake Luella, then climbing first back up to Deer Lake, then finally back up to Deer Creek Pass. Plan on a bit more climbing if you want to bag Siligo Peak.
(2) Visit my trail links page for resources on the Trinity Alps Wilderness.