Yes, there are two Deep Ponds in Arcadia, and I got
caches at both of them! 
According to SquareD22, the
other one is the deepest pond in Rhode Island. So I guess this one
should really be called "Less Deep Pond." Or the other one should
be called "Deepest Pond." Whatever.
This is a very short walk from the specified parking area. There
are some nice views, and a couple of wobbly docks along the way.
This appears to be a kettle pond - no inlets or outlets! The trail
goes all the way around the pond, so heading in either direction
will get you to the cache.
Maps are available at the DEM Website, however, some
of the smaller trails are not shown. Although this is not a
difficult hike into the woods, you should let someone know where
you are headed, and bring a cell phone. A caching buddy is also a
good idea. Please plan accordingly, and wear appropriate clothing
and shoes, and bring enough water and food for the walk. An
emergency card such a
this one is also a good idea.
Since some folks have had trouble with finding the parking area, I
have added
a map. Red Otter mentioned that there is a gate up this time of
year, probably at the last turn off of Blitzkrieg Trail (don't you
just love that name!).
Note: The path splits and loops around
the pond. The short route traverses a bridge/bog/stream which is
sometimes flooded. The other way, although longer, is usually
dry.
All users of state management areas, and all
hunters statewide, must wear at least 200 square inches of solid
daylight-fluorescent orange material from the first Saturday of
October through the end of the season, February 28. Additional
information for Turkey Season!