Yea, very reasonable plan and a good money saver. Ofcourse a belt will not be completely as effective as extra strops, but close enough. Remember to use only a little and save more for other opportunities.

I don't remember the order of the pastes, those are the TI pastes. You can probably do a search. You want the finest grit last.

Honing, whether on pastes or hones is done whenever the razor begins to pull or you decide you want a sharper edge. A little caution is in order as you can overhone a razor and it can shave poorly. If you use the pastes you could avoid the hone for a long time and vice a versa. I would probably start with the pastes and then strop after cleaning it a little, then back to shaving. Should last a week or two, then just keep going. At some point, maybe once a month a few passes on the hone might be called for.

Its kinda like asking how often you put air in your tires . . . the answer is when the air gets low.

I like to run a razor over pastes once a week and over a stone every other week, but I'm sure everyone is different.

I think using a hone is the same (directions wise) whether wet or dry. With the exception that if your using it dry you want to clean it often to remove build up.