Hi Alan.
Interesting to see your thoughts on changing tack and going into smaller compact layout territory. I also have experience with a continous layout build with my Hawkinsfield project, not unlike your original Wencombe in theory, (which I continue to work on at snails pace!), and a small BLT type layout which I exhibit (Stackton Magna). Having just come back from 2 1/2 days of operating the small BLT have have to say I have a love/hate relationship with this type of layout as time goes very slowly with its limited operational scope.
The absolute key to getting real enjoyment from such a design IMHO (again drawing from this last weekend) is to have an automatic coupling system that allows maximum stock movement and complex moves with minimum stock handling and hesidence...in other words smooth running all the time. Like many others on this forum I have invested in Kadee couplers for this layout and I plan to improve the running further by fine-tuning the stock and locos with refitting some of the kadees which in my initial 'rush' to get operating I did not set up properly. (wraps here for people like Andy P and John Flann who seem to get these things just right and then enjoy the operational benefits -another example being Much Markle with the DG's). If set up properly (whatever system you might choose) it should will pay you back in spades of operational enjoyment in my view. Otherwise, I cannot see real benefit in changng your layout design approach after the two magnificant layouts I have seen from you on this forum.
Could you not have both types with the smaller one stored under the other Kingsbridge and erected when you want to 'have a play'?
Anyway, just my thoughts on getting operational fun from a small layout without going completely mad!
John Flann is very wise on this stuff with his Hintock/Port Bedy series.
regards Andy R