Should I rebuild?

[flyboy2610]

Lift outs are easier to build than lift ups, but you have to have a place to store the sections when they are not on the layout. The weight of the sections needs to be considered. Removing and replacing a heavy section will get real old, real fast.
The height of the ceiling is also a factor. Can the sections be swung up without hitting the ceiling? The hinge points need to be above rail height to work properly, and they can be tough to hide.
Between the two it's about 6 of one and a half dozen of the other. On your layout, if the hinge side is on the left and the opening side is on the right, it doesn't look like clearance will be a factor. For solid sub roadbed and roadbed the cut has to be made at an angle ( / ) or lift up section will hit the stationary section. Basically anything that moves on the open side has to be angled.
Don't do a duck-under unless you're young, agile, and plan to stay that way. I had one on the previous layout and vowed never again!
I'd say either a lift out or lift up. The former is easier to build, but not as convenient. The latter is more work to build, but more convenient to use. Factor in ceiling height, and the choice is yours.

 

[KB02]

Yeah, good points. I already have a bit of a duck under to get into the back corner now. And I also have one back surgery in my history. I think lift up will be the way to go.

Just spent a few minutes in the basement looking at the enormity of the project. This is going to be quite the undertaking.