Looks like a good spot.
I'd go with the flashboard riser. Whether your doing moist soil management or growing some sort of foodplot, precise watercontrol is the key.
Also, make sure you put good slopes on the dam/levee around the pond. This will help to deter the critters from making holes in it, keep erosion down and will make maintenance (mowing, spraying, etc) much easier.
Duckdude
