Are you going to plant any trees around, or keep it open, and do you have an army of teenage boys to keep all that grass mowed?
I will be planting some trees, but not too many to block my view of the field behind as I like watching the wildlife. I will probably do scattered clusters on top of the berms in the back corners, some along the beach area to screen my neighbors and then a fair amount of them on the left side to screen another neighbor out.
I will only regularly mow between the house and the pond then around the beach/pole barn/dock area. I will let most of the berms grow natural and only mow a couple times a year to keep the weeds at bay. I'm a huge fan of mature natural looking grass, so I'll only mow what will make access around the pond comfortable and just maintain the rest.