Neural decoding can be viewed as a representation learning problem in which neural activity is mapped into an intermediate representation before downstream reconstruction. The choice of intermediate representation influences both performance and learning difficulty. Here we developed a novel framework for studying how intermediate representation choice influences downstream learning and reconstruction. As a proof-of-concept, we instantiated our framework using diffusion latent representations extracted from different diffusion timesteps for neural speech decoding. Component-wise evaluation showed that reconstruction performance differed substantially across diffusion timesteps, with teacher-forced Word Error Rates of 44.7%, 7.5%, and 3.5% for different latent models. These results demonstrate that diffusion latent representations can serve as effective intermediate representations for learning from neural activity, but that their effectiveness depends strongly on the selected diffusion timestep. More broadly, our framework provides a basis for systematically studying how intermediate representation choice influences downstream learning and reconstruction.