Water levels in the bay should be mostly tidal and not very rain dependent. It is hard to answer the rest without more info about where you are going to launch. I am sure there are some areas that would suck at low tide. Look at the Kayak Launch topic http://www.fcka.net/phpbb3/viewtopic.php?f=5&t=1444
and pick a launch from there , read the note and if that seems OK, you should be OK. Keep in mind that the wind can be very important this time of year too.
As for fishing, the fishing should be great , or OK , or horrible.
The fish are likely going to be bunched up and moving slow if they decide to move at all.
Please make sure that you leave a float plan - let someone (not in your party) know where you launched whcih way you were headed, and when you will get back. Then contact them after you are save back at your car.