smaller ponds dont have as much wind and wave action so the fertilizer does not leach out of the bucket. thats how you can fertilize smaller ponds with the 5 acre rate. I have it in 2 ponds at 2.5 acres and have not applied fertilizer in 45 days. there is no real concern of over fertilizing because you can take the fertilizer out. I know that sounds kind of weird, but I have yet to fertilize a pond that takes one gallon of liquid per month for every month of the growing season which is what most products list on their label. some months it takes more and sometimes I apply none. based on what I have done fertilization is no where close to an exact science, none of the ponds I fertilize stay the same from year to year. some years they bloom with one application and others it takes 3 apps. that being said, trying to sit here and figure out which is the most cost effective is almost impossible.
also, the SE fertlizer is more time release, I have noticed a more consistant bloom. most of the time the bloom I get with liquid is very dense after the application, then lightens up over the course of a month.