The "pit" is the concrete wash-out area. They've had hundreds, if not thousands of concrete trucks on site, pouring concrete. Each one of them has to wash out their chute and drum before going back to the plant, so the concrete doesn't dry up and ruin the truck.
South of BatB is merely a landscape island. I don't think they've started any work on the castle walls, since one of them goes almost exactly where Dumbo is sitting right now. Everything you see has to do with BatB and LM, so far.
Thanks. It's as true to the original plans as possible, with the caveat that I didn't have a lot of landmarks to go off of and the photo is at a skewed angle.
Ha! No loops, but it will circle back on itself and cross over/under a few times. The large open area in the lower left part of the Mine Ride area (where the 4 white pick-up trucks are parked) will be the queue, and the load/unload building will be along that straight(ish) section of track, with the garage behind it.
I believe they made a tiny utilidor connection so that Belle could get from her cottage to the main tunnel area and "zoo". There are no new tunnels out in the FLE area. There was going to be a new spur for the princesses when the central area was going to be a Meet-n-Greet, but they scrapped that when they scrapped the MnG.