If I recall correctly, Michigan has some strict laws relating to wetland areas. If you did decide to go the bulldozer route, you would almost certainly have to obtain a permit to do so. I am not sure what your goals are, but it seems like your property is a very unique ecosystem. I bet the flora and fauna is quite diverse. Habitat like that with mixed woodlands and swamps is often full of many species of birds. Someone like Brettski and particularly his wife would have a field day bird watching there...
Purchasing just a few dozen fathead minnows from the local bait shop each spring would be all you'd need to control the mosquito population if that is your concern. A couple native species which are more adapted to conditions like that may do well, but wouldn't be available from a baitshop or fish farm. The central mudminnow could probably survive year round in your bigger pond and if your smaller pond maintains at least a little bit of water year round, it too... They can actually breath air and in times of low water will burry themselves in the mud!
Central Mudminnow
