Eli,
This particular example was a one year old tree and far exceeded the 70% mentioned. My normal approach was to root prune for the container the tree was going into. First, I would cut the length down to about 2-3" shy of the radius of the container. If, it was going into a 10"D container, I would cut the roots to about 3" long. Then, I would thin out some of the thicker roots until I had just enough roots to effectively hold the tree in the container with a stake.
Root-pruning may stunt top growth for a short while, but it will quickly catch up and surpass a tree left in a root bound state. I have not made any adjustments to the top of a tree to "balance" what was taken off the bottom of the tree. To me it is counter intuitive to do so (no facts here, just my thoughts). When we put a cutting into some medium, the stored energy in the wood is used to create roots. Same with a full grown tree. If you cut the top wood, you also cut the stored energy for the tree to push new roots.
In the ground, space is not an issue. Root pruning is not necessary. In the container, there is limited space for root growth so it needs to be maximized. Newer (thin) roots are more efficient at drawing moisture/nutrients from the growing mix than older (thicker roots) which the trees use more for anchoring. By giving the tree as much space to grow new roots (i.e. pruning the old roots) you also give it's best opportunity to recover and best opportunity for continued growth. There are no hard and fast rules for root pruning . However, the more roots you leave, the sooner you will need to repot.
Once you bare-root the tree, visualize the root mass as you would trim it. If it looks like there is not enough to support the top of the tree, it is time to move it to a larger container.
Jason,
My understanding of the Promix products is two of the basic ingredients are peat and vermiculite. Both of these break down rather quickly and start effecting the drainage and aeration within the container. I would guess the longest you would want to keep a tree in it before repotting is (maybe less than) two years. As a comparison, Al's gritty mix will last 2-3+ years depending on how fine the pine bark is. If you put your tree in a container larger than it needs within two years, you will be using excess Promix.
~james