There is great potential here grasshopper. It so happens that you posted this the same day that I visited Ryan Neils place for the first time and what an eye opener that was. My mental perspective of what a bonsai Could and Should be has shifted nearly immeasurably away from my own feeble efforts growing nursery and flower bed trees. I also bought 2 small Ponderosas from Andy in April/May 14 and have been advised don't repot for 2 years(if I remember right)and do not wire for 2 years(that's a for sure memory from Ryan and Randy Knight).
As I see your tree I would make the trunk arch more perpendicular to the soil looking down its length from base toward the foliage. Also lean it further over the side of the pot. This will bring the lower branch even further down. The lower branch allow that couple years in full sun with lots of fertilizing to to see what back budding you can get. Then wrap the non budded part well with raffia and make some serious shortening and movement curves into it. NOT just curves but serious bends. That is why you wrap well with raffia to protect from the wire as well as from breaking off. This CAN become a very beautiful part of this tree and ultimately be the main focus and beauty of the tree. As to the upper part of the tree this will need to be brought down as well while not overshadowing the lower foliage. Ultimately it might be best to remove all but the lowest 3-5 branches of this part of the upper tree so it doesn't carry all of the weight of foliage to overshadow the actual lower cascade and drastically reduce the weight of upper foliage to help compact the tree. The best of fortune with your new tree.
I am blessed to live only 138 miles from Ryan and Randy so went up to see Randys Fall collected trees in Feb and went back last week with money and bought 3 trees from him. Both trips were literally OVERWHELMING looking at over 100 trees trying to balance available cash, gorgeously beautiful God created trees with real AGE and just to pick which was best of my desired choices. I wound up with 3 medium large to fairly large trees including 1 fantastic tree, one very good tree and one merely good tree. All completely worthy of years of development, care, patience and love. I'm not kidding when I say this was like being a kid in a candy store overwhelming. It makes it really hard to think straight and objectively. If you ever have the chance to visit Randy and Ryan you will NOT be disappointed. MAYBE I'll be able to post some pics later on. Currently I don't know how.