On my 12'X16' layout I have 14 gauge wire for power, with 14 gauge feeders soldered to the track. Ground wire is shared between all tracks and is 12 gauge. Both the light and operating accessory wiring is 16 gauge, with 20 gauge feeders to the lights and accessories.
Yeah it's a bit overkill but I only have a voltage drop of .1v at the track. 18 volts at the transformer is 17.9 volts anywhere on the layout.