Thanks for the quick responses. So - I'm looking for:

a rotary vane compressor, in the range of 1.5 to 2 cfm at 5-10 PSI (better to be closer to 10 psi because of the long hose run, right?)

a diffusor of some sort (I have lots of peices of soaker hose here already, so I might just start with that to get the process going - then upgrade later this summer)

1/2 or 3/4" piping/tubing to run the air from the compressor to the diffusor/airstone/soaker hose in the water

I like the bucket idea - I am assuming I should plop the bucket in the middle of the pond (it is pretty much an oval shape) with some sort of rope to a float so I can pull it back up to check on things, clean the hose, etc.

The compressor will be in the garage.

The air hose runs from the compressor to the water and into the water, down to the bottom of the pond. (Do I have to weight down the air hose once it hits the water? Anything in particular to use or not use as weights?)

In the water in the middle of the pond, the airhose connects with the soaker hose, which sits in a weighted bucket on the bottom.

The compressor runs 24/7, at least through the summer months.

Do I have it right? Anything else I have to worry about?

Charlie