Agreed with upnover...the older French/English made Nelson Pessoas are much, much higher quality. Although, the Argentine ones are pretty nice as well.
There's two different (Argentine) Pessoa Pony saddles out there...and I've owned both. One is simply the Pessoa Pony (or Rodrigo) and then there's an A/O Junior (Pony). The Pessoa Pony resembles the Gen X while the A/O Junior is just like the regular A/O.
The A/O Junior is SO MUCH NICER! The leather on the Pessoa Pony is grained and gets worn by your stirrup leathers very quickly and just doesn't feel very nice. The A/O Junior has that beautiful fine grained leather that has a nice sheen and gets so comfortable and grippy after you break it in. I kept my 15 3/4" A/O Junior for a long time just because it was so gorgeous and comfortable. Unfortunately, the flap was waaay to short for me, so I had to eventually force myself to sell it. Side note: if you end up not liking it, they hold their value pretty well, and you could easily resell it.
Long story short...the Pessoa A/O Junior is a good saddle in my opinion. Maybe try to find one slightly used that someone has had sitting around for a couple years to avoid the recent issues that upnover talked about.