Mark A.
Yelp
The Wanaka Tree is the kind of thing you've probably never heard of before going to New Zealand.  But then, once you get there, you'll see pictures of it.  Not all over the place, but from time to time.  It's a small tree in a lake.  No, it didn't flood, causing the tree's base to be underwater temporarily, it's always like this.  So in that sense, its a good thing to go see.  The lake is scenic and is ringed by mountains, again adding to the scenic value of the location.  However, when you get there, it's a tree in a lake.  Stop, take a picture, and that's it.  There's just not that much too it.  Honestly, its probably a good thing that it's in the lake, as it prevents tourists from getting too close.  This means that you won't have to wait for tons of people to clear away to get your shot.  But make no mistake, there will be others there when you go.  If you are going between Queenstown and the West Coast, stop here and check it out.