Congratulations on going wood !!!!
I got back into the hobby about 10 years or so ago. Plastic for me just didnt do it for me. So, I built a large three lane routed track and got the driving experience I was after, no magnets.
I recommend if you have not that you check out Luf's page at
http://www.oldslotracer.com I used Luf's flexible strip method for routing which really gave my track a smooth flowing feel to it and a very realistic driving line. I never made a straight that was really straight, which causes the cars to slightly dance around even on the "straights".
Since space is tight, I would rather do a squeeze and have a more drivable radius, than have a radius that doesnt work. I have driven on tracks with squeezes, you just have to keep your head and dont dive in next to another car.
In your small track, I would not worry about lane parity, get the driving features you want, as much as you can. If you are racing someone competitively, you will be switching lanes anyway and with timing, there are various ways to score a race session made up of multiple heats.
I used Venture Purple copper tape, per Luf and it worked very well. If I build another track though, I will go with braid for the extra durability.
I went off the reservation on choosing a track surface and used "Plasti Dip", the stuff advertised for tool handles and such. I mixed white and black to get a grey. I LOVED this surface. It does not sluff off on the tires, urethanes lay down rubber on the surface, so grip starts out good and gets better. Decent traction, not abrasive. I will definitely do my next track with plasti dip.
I am not sure what is limiting your space, is it storage ? You could easily make two 4x8 sections that come apart, with folding legs for storage.
Best of luck and post pictures, we all love to see tracks being built !
John