Never done Waterwheel. Clouds Rest is very nice but you want to start from the Sunrise Trailhead...which is at west end of Tenaya Lake. A good 20-30 min drive from Tuolumne Meadows proper.
Generally, there are some good descriptions of hikes up along there at this site:
http://www.yosemitehikes.com/tioga-roadCathedral Lakes is also very nice. Not as long (8 miles RT) but you might be able to combine it w/ a trip up Cathedral Peak if you're so inclined or explore the other side of Tioga by going up Lembert Dome.
You'd need to search around places like summitpost for instructions on the Cathedral Peak approach. I've never done it, but there is a mountaineers route you can take and go w/o equipment (but you won't be able to scale the pinnacles). That said, there are a lot of exposed sections so not for the faint of heart.
One hike I really enjoyed was North Dome w/ side trip to Indian Rock. You're right across the valley from Half Dome. Again, not a long hike (maybe 9 mi RT). If you add on a side trip to Yosemite Falls, that would bump it up.