Matt I really like your process. Many of us that use the trech floating track method have a problem with migrating ballast. It just seems to disappear over time but with your method the ballast won’t be able to spread sideways. I’m sure you will have some settling but just add more on top.
I don’t know if you have been doing this but have you considered pounding in grade stakes before the gravel goes in so you can attach the track to it? What I have found happens over the years is the track rises up and out of the ballast. I have sections that are both tied down and totally floating and the tied down sections haven’t risen over the ballast. Just a late observation… for you.
As for weathering I believe less is more. On my RR I have some cars that I gave a light spray to from a rattle can. Consider the environment the cars are moving through or what they are hauling and use paint that matches. I have used flat paints like black, grey, brown, ruddy brown, on my hoppers and covered hoppers. For practise you could remove the trucks and wheels and do those first. I use a rusty colour like a red primer on mine. Less is more. Be sure to start spraying then move onto and across your part, don’t hesitate or you will get more than a mist on there. Experiment with different distances between spray can and part and you could try to bounce the mist off a piece of cardboard.
Most of my equipment is nice and clean besides some dust. My RR takes great pride in its roster and they don’t let it get all dirty.
Keep up the good work Happy RRing