I have no experience with this at all, but I have nothing else to do right now.

I would try to do what you can to shore up the sides with a sheepsfoot or whatever, and then go for it.

If one of the concerns is not wanting to spend the money for the well before knowing if the pond basin is sound, then maybe pumping from the creek is a lower cost option.

As far as any baitfish, I wouldn't wait until spring to stock them. Fatheads and Shiners are cheap for a few pounds. You could catch bluegill (from Bruce's ponds, since he'll be "away" for a while) and transplant them.

There's probably still some time left this year for baitfish like fatheads to spawn.

Excerpt from Robert Crais' "The Monkey's Raincoat:"
"She took another microscopic bite of her sandwich, then pushed it away. Maybe she absorbed nutrients from her surroundings."