Been twice. First time we camped, second time, hotel. Book now. It's an easy day's ride.
Also decide if you want to actually buy a pass for the rally. We did a couple years ago, it got us free admission to the Tourexpo as well as a dinner on one of the boats on Lake George which was a lot of fun, plus a few other events. And I think you need a wristband to do demo rides.
My suggestion? Go outside of Americade itself. I went last year, and was frankly underwhelmed with Americade itself. The roads however were great, but much like Sturgis, full of other people on bikes, some of questionable skill levels.
Next year I'm thinking about going back down there for a few days, but it'll be well outside Americade itself- less cluttered roads, less packed venues, and cheaper accommodations.