I have 2 of these that were planted in a trench in my back yard where it would flood. I believe to help absorb the water and keep the yard from flooding. So yes they don't mind a lot of water. They were both about 4' tall and 3' wide. The growth was all at the ends of the branches. Also both have little foliage on the side that was shaded.
I saw these as my first opportunity to practice bonsai. I bare rooted and put in gravelly soil mix in big pots on either side of my front door. I chopped and jinned the tops and wired. Not drastic chop just 5-6". One died within a year. The other one is doing well and has put new growth out twice in the two years it's been in the pot.
Absolutely zero back budding on the old wood. I believe when we speak of old wood it is referring to older, bare wood. Maybe nursery trees are still pretty young and they can still back bud. If you took a big one out of someone's yard and tried to chop and chase foliage etc, I think it would not be able to be done. Not to say you cant have fun with these trees. I'll post a pic when I can.
At any rate I wasn't going to ever buy one and then I came across one In september in a one gallon pot at box store. $7.00. Strangest thing when I looked, it was 11" tall with a 2" trunk tapered all the way up. I couldn't resist.I was thinking about putting this in the contest but I have another tree I need to style. Then decide which to enter.