OMG, this is your first time at Baxter! And you got res. at Chimney Pond? at that?!!! Good for you! You are in for a real treat! The views there are soo spectacular, your never going to want to leave!
Well, this is my opinion...take it from a scaredy cat, cautious person. For one thing, I personally wouldn't do the Knife Edge, but if heights don't bother you, then go for it. Not sure what the best way up would be, as I've always gone up the Saddle Trail, except for
ONE time! That was my first trip up and we took the Chimney Pond Trail and Cathedral Trail, up and only made it to Cathedral Cutoff Trail and had to decend using the Saddle Trail, back down Chimney Pond Trail. That was a very strenous trip for me for a few reasons. One, I wasn't really physically prepared for it, two I have short legs(I'm only 5'2") and had some difficulties with the rock climbing, and three(most of all)am afraid of heights. So needless to say, my first experience wasn't the best.
My second time up was better but still strenous for me. Again we started very early(I think about 7:00am), took the Chimney Pond Trail, then the Saddle Trail, same way back down. I think we got back to Roaring Brook about 8:00pm that eve. Now, I'm probably slower then some, especially when I've exhausted most of my energy....so everyone's different.
Now, I've lost track of how many times, I've been up there(Baxter State Park, that is), since we've done some winter hikes in there as well(obviously not to the peak). But I have to say one of my most memorible trips to Baxter was the time we had the cabin at Chimney Pond. It was late August/early September time frame. We almost couldn't go because of a rain storm during the week before we were going. They had closed Chimney Pond the day before we were supposed to go, for high water, then got lucky and they lifted the ban the day we were to hike into Chimney Pond from Roaring Brook. We had a stream crossing, but after that it was a piece of cake.
Like I said, that was one of my best trips up there. The bugs were'nt too bad at that time of year(believe me, I'd be the one to know) and we had a chaperone(big bull moose), that hung around up there practically the whole weekend!
What a treat that was for everyone! I think just about every time I've been to Baxter, we've had moose sitings(with the exception of winter). Had an early enough start to reach Baxter Peak(Katahdin) in plenty of time to enjoy it and still do other trails on the way back. That trip was were with a bunch of people and they all wanted to go down Hamlin Ridge Trail. Well, for the most part(for me anyway), it wasn't too bad, there were some hairy sections that did scare the crap outta me, but all in all wasn't too bad. Like I said, I'm a scardy cat of heights.....some I can deal with....but...I have my hubby to cling onto.
But just staying at Chimney Pond was so great that I can't even explain it. You will absolutely love it! I hope you have great weather and have a wonderful trip! You'll have to do a trip report so we can all hear about it! Have fun and be safe.