D.I.E.D, we're building a swamp here man!
I would like to be able to mow the banks so that I can manage for native grasses if possible. I'm only concerned about any weeds, land or water, when they get to a point were they adversely effect other important systems. I did mention aesthetics as a consideration, but in our case that doesn't refer to manicuring anything like a lawn (not that anything wrong with that). We're trying to create a habitat that looks as "natural" as possible, maybe like beavers made it.
That's it really, I would be happy if this pond looked like it was formed by beavers. If there were significant and clear advantages to rimming the pond I would do it, but I still have doubts that it really helps very much.
Just to clarify, I don't find ponds with weedy and/or steep banks unappealing. As you can see (in my dual level pond thread), my design has both gradual and steep grades depending on the water level. Mostly I'm trying to understand any advantages before I commit to the dozers.