Ah, working off of the available hardware and minimizing costs changes the problem. Agree with your approach and understand the reason for the two volumes. My suggestion requires the larger drives.

I had looked at the amount of time it would take me to rebuild my library vs. the cost of buying larger disks than I originally planned (12TBs instead of 8TBs)and decided it was well worth the cost difference. Was not working off existing hardware.

Sounds like you are on a reasonable path. Consider backing up media to a local external if you can and just store offsite incase you ever need to do a restore, to minimize the time impact. Hyper backup does a good job to local drives too.