Yes. I would do this hike as part of my June trip (see other thread). Two hours travel time each way - WOW that is alot. Good thing I am going in June! From what the two of you say the Traveler Loop is sufficient. The black Cat/South Branch Mt. Loop if only has limited views doesn't sound like a very good extended loop. Of course if I do the Traveller Loop clockwise, I do keep my options open to extend if the group chooses to. From PapaBear's report time and energy will not practically allow me the extension, but boulder rocks VS cliff for descent - what the heck, clockwise sounds nice and a pleasant flat lakefront walk at the end sounds more enticing.
It now more than ever pays not to stay (reserve) at the South Branch Pond bunkhouse or I will be having two hour each way trips for all the other hiking in Baxter which would be much worse at eating up time. But with 3-4 hours travel time RT, I probably will do the circle clockwise and settle on just the Traveler loop.
Thanks folks.
Now if someone can answer and give me a strategy to reserve two cabins.