Well I think it's safe to say the race will be wetsuit legal. Overnight lows this week will be in the low 50s, and daytime highs won't break 70. I can't imagine that lake warming up enough. Sucks, because I don't have a wesuit and don't want to freeze to death!
Most people believe that running barefoot is dangerous. Certainly, depending upon the surface, they would be correct. However, there is some suggestion that running barefoot may reduce injuries.