They have two docks in St Ignace (where we stayed) with one at each end of the business district. While we were there, they had ferries leaving about every 35 minutes from 7:30A to 8P or so depending on the day. They loaded very quickly wasted little time anywhere. They claim about 17 minutes to cross. The fun part is the rooster-tail spray of water from the hydro-jets which I am sure is pure marketing versus functional necessity.
This has little to do with the ferry itself but I recommend you go over early to avoid some of the crowds that arise on the island later in the day by which I mean noon or so. The Arnold line was using slower but much cheaper crossings at 2-hour intervals when we were there. We decided we would rather pay more for the schedule flexibility especially to be able to return quickly once our batteries ran down on the island... and were glad we did.
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