What would I do?
The only good bonsai use of ponderosa is when collected with gnarly 100 plus year old trunks. With an old trunk, they ate great bonsai. Take away the gnarly trunks, and you have a mediocre tree with poor bonsai prospects. Long needles, sparse branching, and s moderate to slow compared to JBP growth rate. Sure, when a seedling hits about 50 to 75 years it develops nice bark, maybe as early as 35 years, but until then they do not have the natural growth habits for good bonsai. You need the gnarly trunks.
If you are growing from seed, there are a dozen species with better traits that will give you a decent tree in 15 to 30 years. Better use of your time, JBP, P rigida, P sylvestris, P mugo, P virginiana, P contorta, and other 2 or 3 needed pines.
Don't get me wrong, I love the 2 Ponderosa I have, but both are over 100 years old. I had ponderosa seedlings for a few years, they were uninspiring, no character, I decided to put my energy elsewhere.