I've done the Horseshoe Meadow to WP route twice and I really like it. (In Aug and Sept the route was much less crowded than I would have expected, and there are no bugs then.) Acclimatize with a Trail Peak day hike as described awhile back by Steve C. Both times It was a 5-night trip, staying at Chicken Spring or Long Lake the first night, and staying at Lone Pine Lake the last night so as to be able to have huge pancakes for breakfast at the WPS. Get standard permit for entry trailhead (Cottonwood Lakes or Cottonwood Pass) but do it very, very early because you also need the Trail Crest exit permit which has a tight quota. You're right, the lottery is not involved.
