Bobby:
Dan (above this) has many great points of advice.
It appears as if you have a huge space. I don't know if stairs lead into the "middle" of this layout or not. If you have to duck or crawl to enter the "middle" of the layout, I would reconsider.
You have TREMENDOUS POTENTIAL here. You are unbelievably lucky if this is your first layout. Mine was 8 by 4 in a bedroom as is most folks.
PLEASE disregard if you are building a toy train layout or a just run them layout.
If you are building a model of a railroad I can't tell you if you have a good track plan or not. Because in order to do that I would need to know: Who (name) this railroad is (even if you made it up), where it is located, why (purpose) is it, what it is doing (freight--what kind?, passenger service) and very most importantly what you and others will be doing to interact with it versus just standing there and watching.
There is nothing wrong with a toy train layout, or a display layout, or a realistic setup.
Regardless, it would be very helpful to know exactly what your design intentions are prior to judging a track arrangement.
My layout is based on the Great Northern Railway and is named: "The Glacier Line." Please check out the Youtube videos. My track arrangement mimics the actual line and for the most part follows the walls of my basement (1 center island) which makes reach/access very easy.
My railroad is a point-to-point as like real life with yards/staging/hidden fiddle areas at both "ends."
My railroad has Plausibility, Purpose and tons of active participation for others because the trains share common tracks and are classified and staged on common tracks as well.
Your current configuration has just one yard area which is visually interesting--but without knowing exactly what you intentions are its hard to say yes or no.
Lastly, I wouldn't circle with this much space. I would get these trains actually going somewhere, from one point to the next and then returning. I would have two yards or staging areas, one on each end, because it will provide you with much more participation for you and your friends and be a lot more fun than just watching the trains circle.
