I got this info off a manufacturers site while researching systems. They state bottom placement will over-heat a pond in the summer and over-cool in the winter. I understand the concept of super-cooling a pond, but the over-heating one kind of baffles me.
I'm shocked that a manufacturer would put such a blanket statement out there like that. Diffuser depth totally depends on the pond, the type of fish, the region, the goals, etc....