Memorial Day weekend - Mt Hood trails?

We're heading up to a cabin outside of Welches for the weekend with some friends, plan to do some fishing, mountain biking, etc... I grew up in Sandy, but moved away before getting my license, so I'm about as unfamiliar with the area as could be.
Can anyone suggest some areas to check out? Nothing hardcore since we'll just have the one rig - in fact, some out-of-the-way routes to good fishing holes would be preferable.

well, I personally have ran the oregon trail a few times. Its nothing extreme other then it goes all the way to maupin. so its like 40mi long. but its split up into sections about 10mi long. Very pretty, lots of little camp grounds and scenic views.. on an old wagonwheel type road. lots of little bumps and stuff. Not really wheelin, more like adventuring!

Im affraid it might still be snowed in tho? I suggest checking it out. Take hwy 26 to hwy 35, about a mile past the 26/35 cutoff you will see "Pioneer womens grave" sign, follow that road down about 3miles to the trailhead.

That sounds pretty cool - I may have to run the entire thing at some point.