Fishing is good - depends what kind of fishing you like to do, and what you're fishing for. There are a couple of options - from the lake, and from the beach. From the beach, you don't need a boat - i used to go to the beach in the morning, and would see people with their poles in the beach - this pic will give you an idea what it looks like http://www.exploreaustralia.net.au/Victoria/East-Gippsland/Waygara/Ninety-Mile-Beach/Fishing-spot From the lake, if you have a boat, people fish for bream, perch, etc.... but you're competing with the dolphins there ;)
What fish??? Pollution from many sources has flooded via rivers into the lakes and wiped out or driven most of the fish away. Combined with commercial fishing this has pretty much destroyed what was 40 years ago a great place to fish.