I really like it.
Dropping the table to keep the approach trackage level is good idea. I contructed a playtable for my son a few years ago and have been critized by my wife that it is all on one flat plain. We've since started adding a hill and tunnel (yet to be bricked) for the newer modular town building sets, but a stream cut out for a pair of bridges would be nice addition.
http://www.brickshelf.com/cgi-bin/gallery.cgi?f=91483
We did add a "lowered elevation" water feature with the dock, but didn't cut it back into the main table for a stream feature. Seems like an obvious oversight now!