Yeah, I think you're going SLIGHTLY overboard. You would be amazed at what simple, small color changes can do. Painting EVERYTHING gives no contrast, and a nice sporty contrast is the point to begin with. But like alot of guys, I'm more of just a fan of a nice...clean..engine. I have not had the chance to give it another cleaning, and it currently looks like trash from all the road crud, but after the first cleaning of the life of the car, I think it looks pretty good.
Definitely a fan of a clean engine bay. Once you've accomplished that, go slowly, paint different things slowly. Get used to it, decide if you wanna go more or if thats enough, but I definitely don't recommend going all out.
And no, you don't have to take off most things in the bay, but things like the alternator which simply come off with two bolts, two wires and a belt its probably one of the simplest things to replace. Ad far as the STB goes, yeah, you can take the two bolts out, the weight of the car holds it it up. Thats why the nuts aren't very big because they really only keep the struts attached when the car is raised and they keep the strut alignment in place. Just do make sure that when you have them out, to not bump the car, the slightest movement can throw off your alignment, and make sure that when you replace it, that you put it back EXACTLY as removed to retain exact alignment.