I would recommend the dirt look. Particularly if you primarily plan on running dirt type cars. It will add to the experience. I am assuming you will route this one from wood since you were asking about color. I would suggest trying larger banking at one end vs the same all of the way around for a little bit of technical variety. Banking isn't that difficult to achieve. A 10-15 degree bank doesn't change your overall diameter that much. I know there is a mathematical equation to figure exact but I don't remember what it is. Maybe another track builder can chime in?
On an oval it doesn't really matter because the other end can increase an degree or two in banking to make the straights align.
I would also recommend elliptical routing. The track will be a little quicker, much smoother to run and add more to the experience when you dive into the corner.
As for size, make it as big as you have space for. The same with lane spacing. You can sacrifice some gutter width in the straight for extra space between the cars. Using the elliptical routing you can gain the outer gutter space when you dip into the corner. The extra lane space helps prevent a bull ring. Especially if your track will have short straights for passing.
If you don't like the banked idea, consider a mild tri-oval for some variety and technical challenge. Putting driver stations along the kinked straight will also improve visibility without leaning in front of each other.
This is all just my two cents and maybe some food for thought. Brian