Also from Southern Alberta here, lived next to Algonquin for a year, driven back and forth camping many times.
Algonquin is very nice, yes, if you like water. Everything revolves around lakes/boats. Cross-country hiking is what we would consider swampy. Buggy to the maddening/insanity level in high season. Foliage is dense and lush.
Areas between Kenora and Sault St. Marie are gorgeous and highly recommended. If I lived in Ontario it would probably be around Wawa.