There is no question that using a grow-out pond for hybrid striped bass works. I've done it over and over again with a great deal of success. Here are some of the pertinent observations that I've made.
I've always ordered fingerlings from Mike Freeze of Keo, Arkansas. They are packaged by the thousand and shipped UPS to me with virtually no mortality. These fish average 1 inch in length and cost about .15/unit. Shipping and packaging costs add about another nickel per head. The pond that I wish to stock them in has been left dewatered for a few months (Nov.-April, usually) and then filled about 72 hours before the fish are introduced. Using this method there are no macrophytes (rooted plants) but plenty of nutrients available for a quick plankton bloom. By my estimate, about 50% of the SBH will be on pellets within two weeks. Most of the others will feed on zooplankton and grow more slowly. Surprisingly, you can feed a fairly good sized pellet even to these smaller fish. They'll hammer at it until it breaks apart. It's good fun to watch.
Your fish will now diverge dramatically in size distribution. After six weeks there will be a range of 1.5-4.5 inches. 80% of the fish will fall right near the center of the bell curve. 10% will fail to thrive or never learn to use the pellets. 10% will be the first to the dinner table and may now begin cannibalizing you smaller fish. This is really no great loss because your runts probably weren't going to be your ten-pounder anyway. After another six weeks with water temps presumably in the mid-eighties, your top 10% may be around 7 inches and will be FAT! This is the time I like to harvest off some of these fish. Depending on how many fish, and how much stress on water quality there is you could easily wait longer, but I've got 2,000 fish in ponds that are .15 acres. My one advantage is I'm pushing about 5 gpm of fresh water through to freshen things up.
Now, to specifically address George's question. I get a little chuckle out of the 100 fish in a 1/4 acre pond deal...400 fish per acre compared to my 15,000 fish per acre. But that's actually a much safer ratio, of course. I'd like to know from the supplier if those 4-8 inch fish were the "runts" or the "super growers" or somewhere in between. It depends on how the grower seperates their fish. Of course you'd rather have the piggies in the top tenth. I'd estimate risk of predation from largemouth as follows:
5 inch wiper--80% over one year in presence of LMB
6 inch wiper--65% over one year in presence of LMB
7 inch wiper--45% over one year in presence of LMB
8 inch wiper--15% over one year in presence of LMB
9 inch wiper--negligible mortality.
No scientific data to back this up. Just knowledge about existing ponds in which I've seen fish such as this stocked in ponds around here.
Striped Bass Hybrids transport from one pond to another best when the water temps are upper 50's to upper 60's. Any cooler and they are at risk of fungal infections. The air temperature should be as cool as possible. Angling with a barbless hook is a great way to do it, in particular if you are able to lift these smaller fish directly out of the water without risk of the fish ingesting the presentation.
Here's a possible way to do it.
When water temps get to 60 F. move the fastest growing fish, provided they are at least 8 inches by angling them with PomPoms. The most agressive and bigger fish will likely bite first. If you catch a little one you can toss him back. Move 30% of the fish. Then when the water temps are 68 move another 30% Now your best fish are moved and you don't have to feel as bad if you have a couple of "morts" when you move the final fish in the summer on a cool morning. At worst, if you lose some of the latter fish they weren't your super growers anyway. If you have a fresh water source like a garden hose from a nearby well you can easily keep these fish alive through summer for a fall stocking. That's usually what I do and I'll bet eastern Nebraska summers get about as warm as those in Texas. We see weeks at a time with daytime temps in the mid-nineties, even into the low 100's.
Hope this helps a little. I'm probably rambling right now.