Tom,
Just read your post and can sympathize with you. Here in southwest Louisiana the problem is as bad or worse than you have. Cutrine will do wonders, but be careful! It is a copper based chemical and will stay in your pond and eventually get into the food chain. Do some research and see what safe levels would be for a 1 acre pond. We worked on fertilization to get the phytoplankton bloom going in order to reduce the depth of light penetration, and thus eleminating the growth of filamentous algae on the bottom. Very clear water is cute, but its not good for fish growth or for control of unwanted vegetation. I'd go with fertilization and the grass carp. Watch them as they grow, they will eat their weight in plants each day, and they will get bigggg!