Norm, good point about active management. IMO, this goes to the heart of Todds original question. I doubt that many new pond owners really understand just what that means. Further, due to time, distance and $, not everyone can actively manage. Absentee landowners, like me, can't always get there often enough to do it right. Toss in a few external factors like drought and it gets even tougher. Business and family pressures have given me a pretty good guilt trip regarding my ponds. I wonder how many others are in my situation.
As often said here, it goes back to goals. However, along with goals, a pondowner should also take a realistic look at personal and other constraints. I still prefer a balanced pond (what's that?) but even the standard BG/LMB combination can get out of whack without active and knowledgeable management.
Regarding feeders, I remember an old post by Lusk. He said to only feed about 5 days per week. For good health, fish need natural food.