Sounds like a good plan.
Yea you can ahve some LMB in their, and need top or your bluegill will get stunted, you just wont have a lot.
if you fish it pull out any baby LMB you find. Plenty of smarter people can give you more specific instructions. no reason not to have a handful of trophy LMB and a ton of good sized bluegill. Could raise forage here for your other pond too