From what I recall from years past, alot of vendors in the downtown area as well as Gator HD. You park all along the streets in the downtown area, kind-a looks like Sturgis where folks park on the side of the road and then down the middle. It gets tight in some places!
Food is not a problem where ever you go, but maybe more in the downtown area where you might find some local places and or choose from the food vendors. If you need a break from the crowds, you can head east to Mount Dora and find a nice place to eat. Yalaha Bakery south of Leesburg on 48 is a great place for lunch if coming up from the SE.
Driving in.. I say, all roads lead to Leesburg as on the map it looks like it's in the crosshairs of N,S,E,W major roads. Depending on the weather and if the crowd is strong, it does get backed up some. I try to avoid driving through downtown (unless you want to experience it like Main St. in Daytona) and take the first spot I see. I live east and take 44 into town and just get there early.
And if you just want to get out and ride... SE of there you will find 561 and 455, which are fun rides. North of there you can find 42 east of 25, then take 450 east to 19 and loop back around for some nice roads.
I hope the weather is nice! Have fun!