Trillium

When I got Betty Jo and Jenny we had an older spoo Sport as well. I was concerned that they might drive him nuts. So I made sure he had several safe places to go where puppies weren't allowed. If they got too crazy I'd pick them up flip them on their backs and cuddle them in. I wouldn't let them down again till they were calm. If Sport happened to growl at one or correct them himself that was ok too. Though I made sure that didn't get out of hand either. They ended up as the best of friends. As a bonus I also have the cuddliest spoos around that will happily cuddle for hours

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Rocketagility

You are holding your dog back because of a rabies vaccine? That is just crazy the chance of your dog getting rabies from a rabid animal when you are attatched to the dog on a leash in a location like Home Depot is like a zillion to one. Look the CDC says only 1-2 people die from rabies per year in the US: CDC - Rabies in the U.S. - Rabies

Your dog needs to be socilized from 8-16 weeks old is the most important time period so get your dog out and don't miss this critial time.

Read this sight also:
Puppy Vaccinations vs Socialization

{Sophie (Yorkie) does have a crate which she loves and when I'm gone for some time they are both crated next to each other and while they sleep during the night. Its weird, they are gentle in the house but once they are outside my Spoo gets a little too rough. I always separate them and tell the pup "No" or "Too Rough". As he is 12 weeks old now I've been taking him around to Home Depot, Lowes and other hardware place to meet people but only while he is in the cart. Don't want him to walk in their yet till he gets his rabies vaccine at 16 weeks but does have 3 rounds of Parvo and DMPP shots already. Thanks for the advice and will always be supervising there play together.}

Fond of Poodles

We teach our dogs an "All Done or Leave it" command to address the "calm down" period. Usually taught by leashing the pup so I have some control, saying "all done". Then following it up with some basic training such as sit and down (or in the case of a show dog, stand, free stack and some gaiting exercises). I've had dogs who continue to be over exuberant right up to a year or more. Some dogs are just rougher than others (not mean, just excitable). I allow the "picked on" dog to correct the pup, but if the correction isn't being respected, then I take over using basic training cues mentioned above. Training with the distraction of another dog is challenging sometimes, but results in a better trained dog that I can work with rather than one who won't listen while there are other dogs around.

It doesn't sound like they won't be friends, just that puppy needs to learn some limits, lol.