I looked at the pond baskets and im going to definitely consider getting some but the ones that im looking at are 7" by 7" by 3" do you think 3 " tall would be good enough?
Actually I rather like that ratio. Working toward a wider but shallower pot is what you want eventually anyway. The pond baskets I have seen all are taller than they are wide. Could you post a link to the retailer where you found this size?
This leads towards my next question--- Does it really matter how small your bonsai pot is?
Many people, myself included at times, tend to use bonsai pots too early in the process of creating bonsai. Once tree are placed in small bonsai pots their growths slows. This is good for trees that are ready to be refined/ramified but is counterproductive for younger material that still needs development.
This is not to say that a huge pot is the way to go either, this has its own issues. Larger pots tend to stay wet longer than more appropriately sized ones. A better situation is a soil that needs watered on a daily basis. This daily watering also means that fresh oxygen is drawn into the pot as the water drains out. Soils, particularly those with higher percentage of organics, that stays wet breaks down sooner than a mix cycles between wet/dry quicker. Larger pots also take more material to fill which means more expense.
Brent discusses over-potting here: