Refinishing old floors this weekend, looking for feedback.

MOD NOTE: This post was previously removed for not having done "basic research." I would hope the the extensive amount of research I've done is reflected in my post, but I will state it here explicitly: I've done an extensive amount of research on this process, have outlined what my research has suggested, and have a few questions below that outline. Please let me know how I can edit my post before removing it!

Hello fellow DIY-ers! This weekend I will be completely sanding and refinishing our wood floors! While I’ve read (and watched) up on this topic extensively, I wanted to come here to see if there are any last-minute gems you DIY-ers may be able to bestow upon me. I will be refinishing somewhere in the ballpark of 700-900 sqft and will be working on what I believe to be Red Oak floors (Floor picture 1). These floors are (presumably) original to the house which is approaching 70 years old and there is not much finish left on them; high traffic areas are essentially bare and will readily absorb water. Given this, my process will be as follows:

1. Remove quarter-rounds from base molding
2. Look for and sink any protruding nails
3. Start off sanding with 32 grit (floor sander --> hand sander --> sand paper for corners before moving to another grit)
4. Apply wood putty to any crevices/spaces between boards
5. Sand with 50 or 60 grit
6. Sand with 80 grit
7. Sand with 100 or 120 grit (this step optional depending on how long everything has taken thus far)
8. After cleaning with a shop vac between grits, vacuum entire area thoroughly (including other rooms, window sills, ceiling fans, door trim, walls, etc.)
9. Go over floors once or twice with a damp (not wet) mop
10. Pass out and hope for at least 8 hours of sleep
11. Put on clean shoes
12. Wipe floor clean with mineral spirits and white rags until there are no more visible particulates or discoloration resulting from wiping
13. Apply floor finish (using an interesting tung oil-based product called Waterlox, supposed to be awesome stuff) with lambskin applicator per manufacturer instructions)
14. Apply additional two coats depending on drying conditions (possibly a fourth if I’m wrong about the floors being oak or I needs more delicious gloss)
15. Leave it be for the next week or two while ensuring proper ventilation for curing (box fan in window for cross-ventilation, turn ceiling fans off to avoid “skin” developing on a coat)

Is there anything I’ve left off, might be forgetting, or may want to reconsider? I also still have a couple questions I haven’t been able to resolve using my Google-Fu, so if anyone has experience here or is otherwise at liberty to provide an answer, that would be great!

1. I will not be using a drum sander. I’ve narrowed it down to either a “traditional” random orbital sander (3-4 small circular discs) or a square buff sander (one big square, not sure if it’s considered random, but it’s certainly an orbital sander). These seem to be used interchangeably as the alternative to a drum sander. Based on what I’ve read, a random orbital sander might be slightly quicker, but it appears both return similar results though a square buff will sometimes get closer to walls/corners. Is there any difference between the two which I might want to consider? If not, I’ll make my decision based on the cost per square foot of sand paper discs/squares

2. Sand paper/discs. How many discs/squares can I expect to go through (assuming I did a fantastic job of removing nails…), or rather, how many square feet can I expect to cover per replacement assuming red oak floors? Right now I’m planning just buy way more than I think I’ll need (based on what other first-timers have reported) and return whatever I don’t use since returning to the hardware store for extras will be time consuming.

3. Floor picture 2! Am I right in guessing I have Red Oak floors?? I didn’t have the sense to ask as a first time home buyer :(

In return for your help, I promise pretty pictures after the project has been completed.