I would say go for grizzly lake regardless of snow. There is one "hill" you have to crest after leaving the China Springs trailhead, then you drop down to the bottom of the creek valley and follow it gently back up to where it ends at Grizzly meadows. There are no creeks to worry about fording (except a couple in the meadow where the water is very slow). The trail is not technical with the exception of the last .5 mile or so, where you scale a serious pitch to actually get up to the lake. If you are unable to get up with a pack on because of snow, you should be able to do without a pack, and even a day trip to the lake is worth it.
The last camp spot in the meadow (as you head to the lake) is one of my favorite of all time! You have a clump of spruce for shade, a crystal clear creek behind you, a truck size granite boulder to your side and a perfect view of the 70 foot falls that pour from Grizzly Lake directly in front of you! You gotta go...