Virginia, You will find about as many methods of managing horses and pasture as you will find owners, but we finally left our flat irrigated farm land for a hay field and put the horses/ponies on the dry hillside. That way, we manage their intake. Even full-sized horses get fat on irrigated pasture. Because it is hillside, we don't get too much in the way of mud bogs, but this is the Pacific Northwest. It does get muddy no matter what we do.
Nancy