Loop one: settle in and bank time the smart way
The early loop is where most people make their only real pacing mistake, and it is the same one every time: they go out too fast because the course feels easy. It is runnable, the field is buzzing, and your legs are fresh, so it is tempting to bank a big cushion on the first loop. Resist that. There is an intermediate cutoff to finish the first loop in 3 hours 45 minutes, so you do want a comfortable buffer, but build it by running relaxed and steady, not by hammering. The day is long and it gets cold and slow if you blow up.
You are on a mix of single-track, forest service and dirt roads, and some country asphalt as you work around the lake. There are a couple of creek crossings, one deeper and wider than the other, so plan on wet feet early and just accept it. Aid comes about every 4 miles, three stations per loop plus the start/finish in the middle, so you are never far from help or a refill.