Many thanks everyone!
Critiques are the best means for learning, and no model is perfect (I certainly see the things I did incorrectly on this one too, or would like yet a bit finer), so I welcome them if I can get them.
Thanks MareNostrum! You are absolutely correct, this diorama will be even more about the figures than about the ships! If you check my Morris tread, you can hopefully see that I have a system worked out for them already. After finishing Morris and before starting Lex, I did another 200 figures. I figure I will need at least another 800 to 1000, which of course takes a lot of time, so I better break it down a bit.
Creating a busy and chaotic flight-deck will also be another key to succes for this dio, and a fun challange too.
I hope it will be a dramatic diorama indeed. I'm really a diorama modeller first, and small scale ship models offer a great challenge for storytelling.
Thanks lost_texan! Morris was a fun part of the project. Because it is so small, it was the ideal testbed for painting techniques before starting the much larger task of Lex.
Wow Edward Wilson, talk about an inspiring meeting! You must feel like doing a model on Lexington too?

Five holes in the hull? I thought she was hit by only two torpedoes? I know of only one photo showing hull damage, but it is a "close-up" of one of the holes so only proves that there was at least one hole. The known pics of her port side unfortunately are too blurry to make out any hull damage of that side.
And yes, that island... Well, this is my version (minus 8 inch director, directors on the fighting top, searchlights, Ye homing beakon antenna, FC radar antenna, and vertical ladders).

More historical info is always welcome, but the reality is that it is always finite at some point.
Thanks hypno7! If you want to do Lex at Coral Sea, I strongly advice getting the Warship Pictorial book by Steve Wiper as it focusses on Lexes wartime appearance. My main mistake was getting this book too late.
The Squadron Signal book by David Doyle is very nice too, with many more pics. These are mostly from the earlier years, but still show many relevant details of the ship. It also has the NARA photo you can find in the calling all Lexington fans tread, which is missing from the Wiper book.
I bought both the Gold Medal Models and Eaduard PE sets.
The GMM set is great because of the quality of the PE: very fine, yet sturdy. Railing, ladders, and quite importantly the safety netting are exquisite. I only wish it included more...
The Eduard set is much thicker and the detail is not so fine. I only bought it because it includes the aircraft crane and whaleboat davits (missing from the GMM set). I did also used a couple of parts on the island though: the parts enclosing the back of the top enclosure, the spars protruding from both sides of the fighting platform, and the walkway to the funnel (but with plastic sheet under it to make it non-see-through).
Interestingly, the Eduard set also includes the degaussing cable which is not bad, but I'm looking for a more 3D-looking solution (stretched sprue, if I can manage to make enough length in consistent and correct thickness). The safety netting and railing are really too thick for my taste. But then again, I really like working in very fine detail and like spending a lot of time on it (this project will take me at least another 6 to 8 months) so I prefer the finest possible PE. The Eduard set on the other should appeal more for those less confident with PE, as it is quite easy to work with.