I know of a few guys who were out on balsam two weeks ago when the weather was decent. They had very good luck in the bays that were frozen over – with eyes and pike. Funny thing was that there were boats roaring around on the main lake and they were fishing with tip ups. Don’t know of the current conditions, but i would imagine that the conditions right now would be more favorable than the conditions two weeks ago.
Today I was out on two smaller lakes near Balsam Lake. We had 5″ and 8″ of ice — good quality ice too. I haven’t seen Balsam Lake, but I gotta believe the ice would be ok for walking on back in the bays. After the cold snap this weekend ice fishing should be in full swing just about everywhere.
Hit Balsam today from 1-5. Made a small attempt to panfish (not much luck), and concentrated on tip-ups and staying warm. Had 6 flags, 5 fish (3 SMALL northern, 1 decent norther, and a small bass). There were several others out there….mostly tip-up fisherman. One guy was concentrating on panfish, but I saw him move several times, so I expect fishing was not good. Solid 5-7 inches of ice out there though.