Yes, you can boondock there. Most BLM land allows it. The area is pretty heavily used on weekends by folks who ride dirt bikes on the dirt roads.
Many USFS areas in the Eastern Sierra and all of the DWP areas do not allow camping except in developed campgrounds. It's worth your time to check out the BLM lands, even though most of them in the Eastern Sierra are not the trees and pretty lakes types of places. I often stay in the 4 BLM campgrounds: $5 a night (half price with senior pass), all but Crowley Lake have little streams right through them to make nice water music to help you sleep, and they are pretty quiet except on weekends. They were all recently upgraded, but the BLM webpage still notes Goodale as having no potable water. Fine by me - that keeps the crowds down.
