We spent 4 days, 3 nights at Lone Mountain Ranch in August of 2012. We were there to fish and to fish only.
The fishing manager set us up with the perfect guide: Rick Reed. If you're fishing through LMR you want Rick as your guide. Not only is he an excellent fisherman and full of insightful tips he also respects the art of fly-fishing and the need of his clients. Being dawn to dusk fisherman Rick had us on the water at a minimum of 8 hours a day. This does not include the 6 hour round trip commute. He gave us 14 hours of his day - good luck finding that anywhere else... This is no easy feat! We never felt rushed nor did Rick ever give the sense his job was simply punching the clock. He hooked us into large browns, rainbows and cutthroats. Again... if you're going to LMR, fish with Rick!
As for the lodge... they quickly accomodated me with a mountain bike on our off day, fed us well, and were extremely friendly. The cabins were rustic and normal per lodges in the area. The waitstaff was friendly and knowledgeable. Food was excellent. Bar was stocked.
Note that Yellowstone proper is quite a drive from the lodge. However the property and surrounding National Forests can do the trick for the hiker as well.