Almost certainly not 🙂 Dynamics are at their best and most useful when applied to a large number of interacting objects that it would be ludicrous to try and animate manually. They are NOT at their best when trying to achieve specific directed movement with a single element or two.
By adding dynamics I would say you do little more than complicate the setup for not much gain (rather swapping one set of problems for another, more nebulous and inexact set !), thereby losing some level of control along the way, and adding what I would describe as 'unhelpful randomness', that you will then end up battling to control to make it do precisely what you want.
Whereas with keyframes, it will do exactly what you tell it to do, when you tell it to do it, repeatably, every time, without needing to be cached or simulated in real time, but of course then the quality of the animation relies entirely on your eye and animation skills to get a realistic-looking result. But that is something that is fairly easily learned, whereas making something dynamic to try and achieve directed specific movement a set number of times (ball bounces) before something else happens (ball flies off) is rather in opposition to what you want to achieve here, which is that very specific, directed movement.
A good place to start would be this excellent rig and tutorial from Animation whizz @Vozzz...
I think your bend-deformed diving board is the best and most helpful way of doing that, so personally, I wouldn't be tempted to dynamize that either ! 🙂
It might initially seem quite a protracted / frustrating experience to do your whole animation manually, but you will learn a lot of very useful skills from doing it that way, so I think that's an excellent way forward...
CBR