I think it's fair to say that I am an an expert on this walk, as I do it most days to and from work and am very often joined by my children heading to my daughter's kindy.
The walk stretches all the way from Scarborough to Woody Point, encompassing the entire Redcliffe Peninsula, but the best section is from Scarborough to the Redcliffe Jetty, and I think it is best walked in that direction. Depending on how long you want to spend, your mode of transport (feet or bike) and who is with you, this section can take 30 minutes or an hour each way, but I think is best enjoyed as a stroll or a lazy cruise on the bikes, with plenty of stops to play in the sand. It's very flat the whole way, except for a couple of subtle rises, so it's great for kids who may not be too confident on their bikes yet. There are also entry and exit points all along the way, so you can join the track or get back to the road with ease.
This section winds its way past 2 popular fishing jetties, several benches and picnic tables, including covered tables with BBQ facilities at both ends, a great playground on the Redcliffe end in Rotary Park, and some very interesting houses that range from mansions and modern apartments, to tumbledown beach cottages. This section also goes past a very useful toilet block near the Redcliffe end (just the right distance for little bladders). The maintenance of this track is also worth mentioning here, with the track swept every morning, the gardens and grass maintained beautifully and even the toilets are pretty well kept up.
If you come on a Sunday you can also spend some time at the weekly markets that wind along Redcliffe Esplanade near the Main Jetty, selling fresh fruit, crafts, clothes and all sorts of interesting things, including the most amazing fresh fruit juices you can imagine. There are also numerous food options along the Redcliffe Esplanade, but if you want something around the mid point, it's worth keeping an eye out for Shields St (opposite one of the fishing jetties). If you pop up this street you will find the Shields St Café just across the road.
If you are not heading to the markets the quietest, and I think most enjoyable, time to take this walk is during the week in the early morning or early evening. The views across to Moreton Island are amazing at this time of day, and the track is only populated with a few other walkers and riders.