Zach.Water oak makes a great bonsai; it features small leaves that are reminiscent of Live oak, and takes readily to container culture. I have also grown Southern red oak. I wouldn't rule out any oak without trying it first. FWIW.
Water oaks do produce small leaves. In fact, I collected one off of the lot that I own next to my home a few days ago which led to my starting this thread.
I've eyed it since starting bonsai 2 years ago and finally decided to remove it from beneath the rock wall that divides my two properties.
It's one of those that I mentioned previously whereby owners and renters chopped back for decades and inadvertently created taper. I hope it survives.