The 0523 is a real workhorse; just keep it dry and well ventilated and it will work well at 16ft-17ft. I have them in pond applications at 15ft-17ft deep and running for over 20yrs. If you have a deep water concern, for deeper applications put the diffusers on a stand (up 16"-26") instead of directly on the bottom. One option is mount them on top of 2 staked car tires which serve as added height, a weighted base, and a sled to pull them from shore into the pond with a rope. See your PM for more diffuser mounting ideas.
Bill is correct in saying it's a workhorse! MY 0523 is a sweet pump and laughs every time I turn it on in only 9 feet of water...lol I only have 2 fusers right now but like Bill says it can do 3 or 4 or more. I have a spot for a 3rd fuser I just have not taken the time to put it on yet... Sounds like you got the right setup once you got it in and running show us some pics!!
RC