Looks like we were right about Great Wolf still having its eyes on a Lake Lanier development.
The company seems, like everyone else, to be having a hard time getting credit, but almost every time details about the company emerge, they include this line:
‘has tentative plans to develop Great Wolf Lodge resorts … on the shores of Lake Lanier near Atlanta."
http://triangle.bizjournals.com/triangle/othercities/milwaukee/stories/2009/01/26/daily1.html