Joel,
I do have an update but not much of one. Here is what I have so far.
I did talk with my ski partner and he filled me in on Norris Lake. As I said before, if you look at a map of the lake, it looks more like a large river than a lake that is somewhat "U" shaped with the "U" laid on it's side (if that makes sense). He divides the lake into what he terms the "north side" and the "south side'".
The north side has several resorts that my initial searching ranges from pricey to affordable. By pricey, I mean cabin/condo/home rentals that were $250/night and went well in excess of $400/night depending on your preferences. I found a hotel/motel that was $250/night. Quite a few resorts have floating condos/homes that are only boat accessable for $250/night and up. Affordable is hotel/motel and sometimes condo/small cabins $125/night. It will be more crowded and be more populated. More resorts, private homes that stretch all along the shore line and closer to towns that would provide extra activities (movies, malls, groceries, restaurants, etc.). My ski partner says you'll be fighting all the Weekend Wally's for good skiing water but it is possible.
The south side doesn't have as many resorts and they are more affordable but smaller. Most everything is in the $100-$125/night range with cabin/home rentals that can get up to $250/night. This, I would consider secluded. Extra activities would be pretty much non-existant. There are three or four different resorts/marinas that are about 20-30 minute trips by boat to get to each other with no private homes in between. This is, however, a skiers paradise. A trip to the north side from here by water is at least an hour so Wally traffic from there is virtually non-existant. You'll only have boat traffic from one of the resorts/marinas which are pretty spread out.
My ski partner stays at the middle resort of the three on the south side. His group books the entire resort for two weeks and he stays up there for an additional week every summer. They've been doing this for 30 years. He said it's not uncommon to be able to barefoot the entire way between resorts in completely natural surroundings. Several coves provide glass water no matter how much wind or traffic you might encounter.
I called that resort and talked with them. It has a 9 room hotel/motel ($100/night). One bedroom cottages with a loft that can sleep four ($125/night). RV sites with water and electric hookups($50/night) and a few tent camping sites ($20/night). They also have a large 3/2 home that two small families could rent for $250/night.
Caveat---My note pad with all the actual prices are at home so I'm just going by memory here but I can confirm everything if we decide to consider this site.
My schedule and the somewhat limited hours of the resorts in their offseason have made it difficult for me to make contact with other resorts at this time but I was planning on calling one of the cheapest places I could find on the north side and another place on the south side.
So here's the final synopsis...
For nicer amenities, more potential extra curricular activities, nicer restaurants, more crowds, a bit higher prices, Weekend Wally's and most likely rough water with the possibility of good skiable water someplace (It just can't be as bad as Kentucky Lake?

?)----The north side is the way to go.
If you want to be budget oriented with limited access to nicer amenities and have virtually no chance of extra curricular activies, be very close with our own group but be able to ski pristine water in virtually untouched natural surroundings---The south side is the place to be.
My own personal opinion is the south side, but I would rather "rough it" with good people and good water and spend money on gas than a nicer place to lay my head.
I can keep you updated on any other places that I get in contact with.