I actually did this hike as part of my South Rim Trail hike, but I am reviewing it separately as it is listed as a separate trail here.
What can I say? The trail is UP all the way to the top and it is not easy. I would not recommend it for the elderly or people with health conditions. It's DOWN all the way back, but your legs will be shot by then which makes it hard on your legs to brake.
You are afforded 360 degree views from the highest point in the park, but the views aren't as impressive as I found them to be on the Rim. There are some large rock croppings at the top of the Peak where the antennaes are, which I saw some people climbing, but I would encourage you to resist the temptation unless you are a skilled rock climber. If you were to get hurt at the top of the peak, you could be in trouble as medical help is a LONG ways away. You can get beautiful views just walking around the top, so why risk breaking your neck?