I found a marriage dispensation record (023 Benito Guzman & Juana Maria Rodarte / Jerez) in the late 1750s which has some information about Diego Pinedo. My Spanish isn't the greatest, but I think it indicates that Diego Pinedo was married twice as follows:
Diego Pinedo m. Maria Anna de Esquivel (1st marriage)--Maria Anna de Pinedo m. Miguel de Avila----Antonia de Avila m. Nicolas Mexia------Magdalena Mexia m. Gregorio Rodriguez--------Maria de la Encarnacion Rodriguez m. Benito Guzman
Diego Pinedo m. Gertrudis de Castaneda (2nd marriage) --Maria Antonia de Pinedo  m. Diego Rodarte----Cayetano Rodarte m. Maria de la Rosa Longoria ------Diego Rodarte m. Agustina Vallejo--------Juana Maria Rodarte m. Benito Guzman
Here's the link to the dispensa: https://familysearch.org/ark:/61903/3:1:9392-66SY-2P?i=22&wc=3J49-829%3…
So I have a few questions I'm trying to clarify:
1. Is Diego Pinedo's 2d wife Gertrudis de Castaneda the same person as Gertrudis de Avila?
2. Has anyone found a documented connection between Diego Pinedo and Rodrigo Pinedo?
3.From what I could tell based on several other dispensas I've been reviewing, I think this Diego Pinedo had several children as follows:
Diego Pinedo m. Maria Anna de Esquivel (1st marriage)
a. Joseph Pinedo m. Maria de Olague b. Luis Pinedo (b. 17 Sep 1696, Jerez, Zac)c. Josefa Pinedod. Maria de la Candelaria Pinedo (b. 17 Feb 1699, Jerez, Zac)e. Maria Anna de Pinedo  
Diego Pinedo m. Gertrudis de Castaneda (or de Avila) (2nd marriage)a. Maria Antonia Pinedob. Baltazar Pinedoc. Lorenzo Pinedo
For anyone researching Pinedo lineages in Jerez, does this square with your findings? 
There's a lot of good stuff in the dispensas! (Also an FYI: there's a dispensa that discusses Rodrigo de Pinedo for anyone interested. It was in the dispensa for 086 pedro tadeo reynedo & antonia gonzalez / jerez for 1733-1734 at http://www.guadalajaradispensas.com/2011/12/1733-1734-fhl-source-film-1…. The groom's name is misspelled; it's "Pynedo" or "Pinedo" not Reynedo). 
Chris Pineda