^^Wait times for those coasters on a saturday in general are bad. Friday may still be bad but it can sometimes be hard to predict.
^Last week of august is usually not very busy. If you want to be close to an entrance, stay at Hotel Breakers. It is very close to two entrances. sandcastle suites isn't horribly far away but it can be around a 5-10 minute walk.
You said Camp Snoopy and Skyhawk were new for 2008. Camp Snoopy opened in 1999 and Skyhawk opened in 2006. New for 2008 is Planet Snoopy and Skyscraper.
I made it over there on Monday and I have to say it is a great water park. The slides were going very fast and the capacity seemed to be pretty good. I was able to hit almost every slide in about an hour and a half.