Gay days is pretty fun. Going to Magic Kingdom when it is taken over by Family is pretty amazing. Red shirts everywhere. There are parties every day and every evening at the host hotel as well as themed parties to attend. You can pick which you like and skip the rest or do your own thing as the local bars all also have events going on. The weather is great (not too terribly hot yet) and as with any even like this-it's going to be whatever you make of it. If you let the silly twinks get you down, then they will. Or just rise above and make the most of it. Stay at the host hotel if you can.
I'd spend the week in Orlando and then do Market Days in Chicago in August. It's just a weekend event but MUCH better then the crazy ness that is IML. I did IML once and I know that one night I had something slipped into my drink... That night started out fun but ended up very, very badly.