Pros:
This course is within walking distance of my house, so that's the biggest pro. Because of that, I've played literally hundreds of rounds here. So when I move away, I'll still stop here for the memories when I visit town. Not sure why I waited this long to review the place. I have to review this thing objectively though, so here goes:
The land available is used pretty well. While there aren't really any tight lines, they do utilize every tree on the course in some way or another and the hill is used pretty creatively as well.
The baskets are still in "brand new" condition, and the teepads are pretty solid (for not being concrete).
Navigation is phenomenal. I had to ask someone where hole 1 was the first time, but after that it was a breeze. Every teepad is pretty close to the preceding basket without being in a dangerous position. Hole 1 is the one right on the beach. Also notice that the hole 6 teepad is relatively close to the one for hole 5, so don't get turned around after you hole out on 5. Just walk back across the fairway to the other teepad by the fence.
This is a good "tweener" course. I have friends who have only played pitch and putts and are afraid to throw anything "longer", but they can still enjoy this course. The longest hole is only about 330', and most of the rest of them are birdie-able for am-level golfers. This can be viewed as a con too, but if you're trying to ease someone into the game instead of taking them to Terrace or SeaTac, it's a great course for that.
It's also a good course to work on your line shaping. I view it as something in between, say, Juel and Blyth. What I mean is that you can work on shaping lines with actual obstacles (unlike Juel) without worrying too much about your disc disappearing off into the woods if you hit said obstacle. While my drives haven't improved much from my time here, my approaches are downright deadly because even the worst drive leaves a reasonable approach shot.
There's almost zero potential for lost discs here unless you screw up royally and fire a disc into the lake, but I have found quite a few that people have just walked away from.
Other park amenities are nice as well, with a playground, swimming area, restrooms, and an outdoor ping pong table.
Cons:
This course gets very crowded in the summer. I won't play here after work in the summer because there will be an average of 7 groups playing the course. Being that it's an easy and relatively open course, all of these groups are rec players who have no concept of the idea of "playing through". Even if you do run into a group who will let you play through, you'll just be waiting behind another group on the next teepad. That's why I hit Terrace on summer afternoons. Even if it's crowded with rec players on the early holes, they always quit before the back 9.
Also note that there are a lot of other park users who don't notice the "You are entering a disc golf course. Watch for flying discs" signs. Be aware of them, and if they're picnicking beside the 9 basket (as they're prone to do), skip the hole. There's plenty of opportunity for safari golf here, so I'm sure you can find a way to make it up somewhere else.
I'll step down from my soapbox now, but I still have more cons.
Teepad 1 is a con. It's right on the beach, so it's covered in sand. Rubber mats + sand = a very slippery surface. I've actually gotten really good at releasing a disc accurately while slipping, but it isn't a skill that I want to have...
Every hole on the course has asphalt in play at some point. Some people list this as OB to keep things interesting, but regardless of whether it costs you a stroke or not it does eat up your discs pretty quickly.
I do wish that there was a hole that was a cross between hole 7 and hole 8. I like the long shot along the side of the hill idea, but it would be fun to just air one out with the basket slightly downhill and to the left. 7 and 8 are great holes though, and usually the ones that will cost you a stroke if you don't hit them right.
Other Thoughts:
There have been rumors for years of a back 9 being added across the street, but I don't see that happening. There are a few interesting lines in the woods over there, but it's too short and tight to be worth putting time into.
I obviously enjoy this course due to its proximity and the memories that I have there, but there just isn't much here to make it worth the drive. If you're passing through on I-5? By all means, stop by. It's a quick 9 that will still test you a little bit and that uses the land creatively. But it won't help you improve your overall game that much either, and that's the biggest thing that I look for in a course. Perfect example: I used to play Terrace all the time, and when I visited other courses my scores would reflect the practice. Then I played Silver all the time, but my game went in the opposite direction.
So let's just call Silver Lake what it is: A reasonably enjoyable niner with creative use of land and elevation that's a great place to get a quick round in, but not much else for the serious player.