The red bull was for the heifers, he has been replaced.
And I am with Jim on this one. I don't see how keeping a bull out of one of my proven cows (and I use purebred or as close to it as I can get to try for a bull) is any different than buying a bull from someone else. This way, if he doesn't work out, I can only blame me for not culling him. I figure out of 180 head of cows, I should have a couple cows that can raise a decent quality bull calf...
As far as developing one, I'd almost prefer to develop him myself, too many of the bulls on offer every spring are ready for the slaughter plant, not the pasture! So I can't see how my development program is any worse than that. I want him grown out and in good condition, not slaughterhouse fat...