I had a frozen yogurt here on a hot summer day. The location is almost unbeatable, watching boats, the islands and tourists browse around the boardwalk. Its a 20 foot walk south of Sobey's grocery store.
My frozen yogurt came to $4.25 after tax, and was a reasonable proportion for the price. There are tables outside that are rather enviable on a busy day when this whole zone gets packed. Sometimes the lineup gets long at this place, but that also speaks to people coming back. Not all of their business is from tourists, they get Torontonians also.
I disagree with some of the other reviews below. To the fellow who suggested going to places in East York and Uptown - they can't exactly replicate a boardwalk with a lake, tall ships, and thousands of people per hour in walking traffic, can they? Maybe you can save 50 cents and go there if that's what you like. I take in ambience when I rate a place.