How about a second lift-out section at the other end of the space? That would provide a basic around-the-perimeter track-plan route as well as the dog-bone you are starting with.
Your track-plan is really dependent on your interests and thus what you are trying to accomplish. Tinplate? Post War? High Rail? Passenger trains? Industry switching moves? Drilling&blocking of freight trains in a classification yard? A favorite prototype you are mimicking?
I gather you have a ready supply of O31 curves and track switches and if sticking with them lots of planning decisions have already been made.
In the department of opinion and for-what-its-worth I prefer higher rather than lower benchwork because I want to sit and view the Pike somewhat below eye level, i.e. 38"-40". I sort of fall right into the scene that way.
Another FWIW (that doesn't fit your on-hand track pieces) is that I prefer a minimum of O72 curves including through switches because suspension-of-disbelief: in my mind's eye it 'looks' like a real railroad.
I'll get on my favorite soap-box and say that all model railroading is caricature and that what we strive for is good (believable on some level) caricature.
Time to get out the tools, eh? 
