You can also hike Loon. A very nice detour can be made over to Loon Pond and the South Peak, starting along a cut trail below the knob that the tram terminus is on. They cut several ski trails to the west of the main area but were stymied by opposition. The paths in that area make an interesting nature walk, and you can even descend an old road into town.
Plus, there's a path from near the summit that goes towards Black Mountain that I haven't explored yet. We climbed Scar Ridge from Loon once - not too bad, but very balsamy.