My brother and I did the smoky mountain railroad trip last labor day weekend during our bike trip......the train that leaves bryson city. It was a decent ride with some great scenery along the lake and you cross a trestle bridge as well on the trip we took (nantahtala gorge trip). If it's hot out like it was the day we went we opted for the crown class car (it has a/c and a bathroom in the car) but you can get an open air car or other club style cars. They give a AAA discount and there are coupons posted online sometimes for other discounts.
Also since we chose the crown class car you get the toy train museum tour free with your ticket as well as a collector tumbler with free drinks all day......they have re-fills on the train as well as at the depot.
Here's a few pics from the train depot/trip and toy train museum:






If you are staying in bryson city take a drive over to maggie valley and tour the wheels through time museum. It's worth the trip......we've been there several times and always find something new.
Here's a slideshow from our visit last year:
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