According to my fishing partner who lives out there, the channel at the end of the road is now cut 6' to 8' deep. It no longer angles off up through the big island but runs all the way up to the corn field. apparently no way of even driving further up to cross over. He reports also that the sand/gravel ledge that guys were standing on the past few years has now mostly washed away and is pretty much just a shallow (and fast) part of the channel.
On my way back from the Columbia yesterday, I stopped by Pegleg to check it out.
Much to my Pathfinder's disappointment and my own, I can vouch for what Morty wrote above.
Vehicle access to Pegleg is history. It may be years before the river changes again and we get it back.
It might not happen in my lifetime.
Like Johnny Canuck says, there are guys wading across it, but it is risky (remember it took a life last year!). One of the two guys I was watching yesterday had water to almost his hips (he was a tall guy, BTW). Another guy (average height) was in the water up to his waist, and at one point he seemed to be struggling. They both managed it safely back though, but it was enough for me to see. Although I am 6'4" and of a large build, I will not bother with Pegleg.
As for launching a boat, your best bet would be a canoe or pontoon boat. It would be tough, if not impossible, to launch a conventional boat.