FWIW, I have only made one layout with splined roadbed. I am not handy by any means, a bit of a klutz, but I managed to generate a very successful mainline with passing sidings.
Just so you know of my experience and technique: (this was HO)
a. 1/4" MDF 4X8 sheet cut into many 3/4" strips;
b. I did laminate three layers at a time, one against a brad forced into the middle of each spline, glued first, and clamped;
c. Make darn good 'n sure your curves, where you form them, conform closely with your track plan;
d. When those three had cured, another three, this time clamped to the ones extant;
e. 3/4" MDF in six-ply is very rigid. I bet you can go with half as many splines for your scale and still have plenty of rigidity;
f. The inherent rigidity doesn't allow you to make risers to support the splines five or six feet apart, but three feet is quite reasonable, maybe even four when ya gotta'
g. Do take a surform file and scrub both the beaded and welled glue off the bearing surface, but also to help to smooth that surface transversely. You should not have to do anything about the longitudinal axis as splined roadbed is astoundingly good out of the block that way. If you got your riser height pretty close, that is.
h. I think the idea for most applications is to drill a small hole into the middle of the splines, carefully so they don't separate, and then insert a small screw that can be countersunk a bit to not interfere with the track ties above them. The screw needs to be embedded in the splines when countersunk. Just a secure anchoring there.
It's one of those satisfying experiences that, if you go slow at first and learn what you must do to get the roadbed geometry you need for your track plan, it should turn out very well.
I have no experience to speak of with wood, so I cannot say MDF is a better product for this. I suspect it is not, and that you know better. Again, take your time, get lots of small clamps handy, do six-foot lengths all at once, half glued and set, then the next ones (but N scale should only need three laminated...?), and when you have closed the loop, start treating the surface to get it smooth across the laminates, and your flex track should flow.