Your plan seems a bit aggressive and borderline crazy to me. I like it! Interested in the feedback here. But, there may be better options. First off, if the muck you speak of is organic, mother nature can take care of it for you. She just needs some time, and a little help from you. Aeration is the key here. Is there a shortage of time for a result?
Some of the muck is definitely organic-there are a lot of trees around dropping leaves, sticks, etc...in, but the pond was put in about 40 years ago and there is a fair amount of silt as well so I'm not sure how much aeration and a muck dissolving product would help. Besides, I know that a lot of times a slow approach is favored because fish kills from release of toxic gases is a concern, which i don't need to worry about since I have no fish.
I can't speak to the muck removal with a trash pump part of your query, but I can speak to the quality of the pumps sold by Harbor Freight.
Don't waste your money. I burned up three of them while I was renovating my pond. Buy a good one and you'll only have to buy one.
What went bad? The engine or the pump?