Hi Jim,
I hope Jamie gave you a few ideas the other day. It's been a while, we should take the Sports out for another run one of these days
Although it's always better to have more time on any trip, you'll get to see some of the best the Cape has to offer in the time that you've got.
The itinerary looks good, but as Mark pointed out, Punsand Bay to Musgrave or Laura would be a very long day.
It's around 580km down to Musgrave from Punsand Bay, and it is doable, but since you don't need to book any accomms. at any of the roadhouses/campsites on the way back south, you can travel as far as you feel comfortable, whether that be Archer River(410km), The Bend at Coen(470km), or Musgrave etc... and then just pull up to camp for the night.
Hann Crossing(Rinyirru NP/Lakefield) would be a nice spot to camp, and it would give you time to look around Cooktown, Old Laura Homestead and Red and White Lily Lagoons etc… Don't forget you have to pre-book if you're going to stay here.
It is basic bush camping with a nearby pit toilet, and we really enjoyed our camp here, but if you'd prefer some more home comforts, Musgrave isn't too far up the road.
Four nights up at the tip will give you plenty of time to explore or relax, and a full day at Eliot Falls will be great. You'll have time to swim in Fruit Bat Falls, Twin and Eliot Falls and The Saucepan, but you'll probably leave wishing you had more time here…most do.
Just a hint if using Google Maps to work out driving times, they occasionally hugely overestimate them. Punsand Bay to Weipa via the OTT bypass roads and Batavia Downs shortcut suggests 11hrs40mins, and it took us 6-7 hours including 2 stops.
Not sure if you've had a look at our trip report yet, but there are loads of photos and the odd bit of info that might give you a bit of an idea of some of the places you'll be passing through and visiting too.
http://www.myswag.org/index.php?topic=25497.0Good luck with the rest of your planning Jim. You'll get lots of great help on here, and you know you can also contact us anytime with any questions and we'll try to help.
You'll have an amazing time, and I really wish we were going back up too.
Cheers
Karen