I recently went to Lakeside to check it out. I hadn't been there since I was a kid. First of all, the people saying the park is a dump are wrong...maybe it was in 2005, but when I went I found it to be at least as clean as Elitches (the other major local Amusement Park). The park itself is beautiful in a retro kind of way. There is lots of mature landscaping and it is well maintained, with huge trees and greenery everywhere. The Park is old and family owned, which can be a good thing or a bad thing, depending on what you like. It lacks the polish of Elitches, but lacks the canned corporate feel and high prices as well.
It is a lot cheaper than Elitches, and the guests reflect that...but it isn't "ghetto" like a lot of people have said. While I was there I saw mostly families, and I found the atmosphere very relaxed. I saw more rowdy teenagers at Elitches than I saw at Lakeside.
The main draw of the park is the Art Deco styling of the buildings and the 50s era neon, which is something you don't see anymore. The rides all have these custom ticket booths which look like something out of the 50s or a Jetsons cartoon. They are mostly just used for storage now, but they are in excellent condition and add a lot to the park. The park is beautiful during the day, with gorgeous mountain views across the lake. But it really should be experienced at night. You can probably find photos on the internet, but they don't do the park justice. The neon lights are well maintained and are what the park is famous for.
As far as rides go, I would say calling it a permanent carnival is accurate. It is not a polished modern theme park like Elitches. Though Elitches has many of the same rides, they are re-branded with bad paint and missing lights. Lakeside has a lot of older flat rides which are hard to find now (and many are in great condition, with immaculate paint and working lights), ranging between low and medium intensity. The Wild Chipmunk is a fantastic steel "wild mouse" mini-coaster. And the large Wooden Coaster, the Cyclone, is considered on of the best in the country (and far superior to the rather lame Twister II at Elitches). But it was not running while I was there. I did get to ride the Wild Chipmunk though, and it was as cool as I remember. Not as intense as a full sized coaster, but definitely not a kiddie coaster either. There is really nothing like it at Elitches.
Lakeside has miniature trains that run around the rather large lake next to the park. There are three total; two are steam and one is diesel. When I was there, only the Diesel was running. It was a popular ride and always packed. In general, though the park was busy while I was there, the lines never seemed to be that long, even on the popular rides.
Unlike Elitches, they have real amusement park style food here (as opposed to mall-type food court food), which is a mixed bag. The burger I had was fantastic (greasy but good), but the pizza looks like normal frozen pizza. Most prices were comparable to Elitches or a little cheaper. Expect to pay around $8 to $10 a person for a full meal for an adult. However, unlike Elitches, Lakeside does allow you to bring in your own food, and there are ample picnic tables everywhere.
If you are on a budget, Lakeside is much better than Elitches. I really like the pricing model...if all you want to do is enter the park all you pay if the $2.50 fee (which includes parking). Thats it. Contrast that with Elitches, where you can't enter the park for less than $20, and can't bring in your own food. They do sell unlimited daily ride passes for about $18 on weekend days and $14 on weekdays (though all passes are 1-day only...they offer no unlimited season passes). The $2.50 fee you pay at the parking lot is for _admission_, not parking...parking is always free. You pay $2.50 whether you park there or walk in off the street. They occasionally run specials; this week they had one in the paper for a $13 unlimited rides pass for a weekend day including admission.
Their hours tend to be shifted towards night (as opposed to Elitches, which are shifted towards the day). Weeknights they usually don't open until 5 or 6. Most days they stay open until 10:30 or 11pm (closing times aren't listed on their website for some reason), depending on the crowds. Check their website for specific opening times, as they change during the season.
If you have lots of smaller kids or old people in your group, you will probably like this park better than Elitches for its relaxed family-friendly atmosphere. Most of the rides (even in the "adult" parts of the park, though they do have lots of good kiddie rides) are suitable for kids. If you have teenagers, they will probably enjoy Elitches more though. You go to Lakeside for the atmosphere, not for the best thrill rides, and teenagers will probably get bored here. I go to both parks and have a season pass at Elitches. While I like both parks a lot, if I had to choose one, I would prefer the atmosphere of Lakeside over the flashy rides at Elitches.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.