As well as the falls, there are a few other viewing platforms and area to take breaks along the way. The glen is classed as an RSPB nature reserve and you could expect to see a number of different types of birds, ducks and small mammals along your walk. I would suggest allowing approximately 60-90 minutes to walk out to the falls and back. That would give you time to relax and take in the sights, walking at a leisurely pace.
I took my young dog along with me when I went along. It was mid-week and there was only a couple of other cars in the car park. I imagine that the area would be far busier come the weekend, however we only met three other dogs along the way, all of which were well behaved. The area seems to be well maintained with no signs of irresponsible dog owners if you get my drift!
In summary, I would say that this walk is well worth the short journey North of Inverness. The ethereal, serene feel to the area has a certain calming effect that makes you forget about the trials of every day life. Take yourself (and your kids/friends/parents!) along for the ride and make an afternoon of it.