Have you seen these pages on my site:
http://www.fishpondinfo.com/farm.htm which has some links to companies that cater to larger ponds and
http://www.fishpondinfo.com/algae2.htm which has some algae information. The reason I bring up the algae is that if you kill off a lot of the water lilies, then you will be battling algae. The lilies shade out and compete with the algae so they are good to have to some degree. Of course, you'd still like to have open areas to boat through in your case. If you contact those companies on my farm pond page, they can better help you than I can. I am personally against using toxins like herbicides. Water lilies can be physically pulled up or removed with machinery, or animals that eat them can be introduced. At the same time, animals might end up eating them all. Animals that eat water lilies include grass carp, beavers, deer (ones they can reach), muskrats, certain aquatic turtles, and koi to a lesser degree. You can get sterile grass carp so they can't breed. They eat all sorts of plants.
Bass and bluegill are the standard sort of fish to add to a pond where fishing is desired.
It probably would be a good idea to remove pine trees right on the pond's shore. Some tree cover is good for shade but you don't want a lot of debris. Pine needles also lower the pond's pH. Water running into the pond from a stream should be ok if the stream is healthy.
As for the bottom sludge, there are a few options. Dredging is expensive, destructive, and makes a big mess but is the only way to get a lot of slop off the bottom. Then, there is good bacteria. I'm not sure what the stuff is that you got before but it probably didn't work well enough. There are many brands out there. A pond your size will need a lot of it. Aeration of the pond with aerators or a turnover pump/fountain will help a lot to degrade and digest the bottom slop by getting oxygen down there. The companies on my farm pond page sell bulk good bacteria and aeration systems. They also have all sorts of herbicides if that's what you want to use. Be very careful. I wish good health for you, your pond, and its denizens.