Expect your average Kettle Moraine trail with minor areas of loose rocks/roots. The boardwalk areas do get very muddy however.
Overall: If you're looking for a good run, I would advise going to either Lapham Peak for a wider variety and distances of trails or (to better avoid crowds at Lapham) head South to Scuppernong trails. The wooded section of this trail may be useful for local runners looking for a path with little to no company.
With the majority of this section along Waterville Road, the Waterville Segment of the Ice Age Trail
is primarily only a connecting route between the Scuppernong and Lapham Peak segments of the Ice Age Trail
The parts that are off the road offers an average landscape expected in the Kettle Moraine, rolling hills with a few minor hills to climb. However, this area in particular consists of mostly low-land which requires boardwalks in some areas and creates for swampy/muddy conditions around those boardwalks. The swampy and wet nature of the area also makes it a mosquito haven, especially during a wet season, but does however enable some interesting scenery of very moss covered trees and rocks and lots of mushrooms along the path.
Although most of the segment is on Waterville road, the road is actually quite a pleasant run with very little traffic (lots of cyclists) and a scenic drive sort of feel.
There is plenty of parking located near the UW Waukesha Field Station also by the Wildlife in Need Center. Additionally, contrary to maps, there is parking for two vehicles right on Waterville Road where the trail enters/exits the woods.