Hi Doug,

All of the previous information are very good. One thing that may dictate the pond potential for you is listed in the following link from the ministry of natural ressources of Ontario. http://www.mnr.gov.on.ca/mnr/forests/extension_notes/pdf/pnds.pdf
You might be aware of that document?
Here in Quebec, we cannot touch any brook even dry ones, its better to get advice from a representative from the MNR around where you live to get the proper permit instead of waiting to find that the excavation was illegal...
We always test the soil composition and the water table levels before proceeding. It may tell you what you need to know and if a liner is needed. We have been succesful building ponds in dry gravel beds with GCL (geosynthetic clay liner) membrane. Easy to use and it works better than plastic membrane in a rough excavation project.

Also, windmills are good for aeration if you have a windy area. Imagine a hot summer week where most nights are still and quiet, you would not get much aeration. Electric and wind aeration can be installed together also. We have recently started to install Superior Windmills and their Turbo-Jet-Stream model will generate 3,0 cfm of air with winds of 9 mph (15kmh). Which is in fact twice the amount of air generated with a regular windmill.

Regards / Mario