Berkshire, there are a few things to take into consideration here.
First, congratulations for getting SRTM/DEM terrain into the game. Now welcome to the fun of building a route with it...
The higher the 'resolution' of the SRTM/DEM terrain, the easier the job you will have of knowing how to lay your tracks, and adjust your terrain to it. No matter what resolution though, none of the DEM that Railworks can handle will ever be so close to the real terrain that you won't have to make any adjustments to it.
All SRTM/DEM terrain is NOT created equal. As Matt P mentions in the first few minutes of the video that Sumitsingh shared, there are many different 'resolutions' available from different sources on the internet.
Do you know what resolution, or site yours came from?
The site Matt used; 'viewfinder panoramas' has 3 arc second resolution. That means that the terrain height is accurate at points every 295 feet, and averaged out in between. A single track railroads roadbed is ~11 feet wide. Using 3 arc second terrain for a route, and laying the track to match that terrain will not produce remotely accurate results. You'll find that things such as cuttings, track embankments, and small grade changes just will not register at all in the terrain. Inversely, ditches, rivers, and other low points may not show up either.
1 arc second resolution is much better, but still not ideal for terrain with 'sharp' features.
In the example of your bridge near Delphi...
The 2d 'top down' picture that you posted from Google Earth does not do the real terrain any justice. ...nor does your SRTM/DEM terrain unfortunately.
Looking south from north end of Delphi bridge.jpg
Looking North to south at Delphi bridge.jpg
On both sides of the bridge the rail line is up on a steep fill or embankment. Google Earth's ground level view shows this pretty well.
Embankment north of bridge.jpg
The embankment is only 113 feet wide at its base. If you look at the information below, you can see how even with 1 arc second resolution SRTM/DEM, you would likely only get a small 'bump' in that terrain to represent the embankment after you import it into Railworks.
3 arc second = 295 feet between accurate elevation points
1 arc second = 98 feet between accurate elevation points
1/3 arc second = 32 feet between accurate elevation points
1/9 arc second = 11 feet between accurate elevation points
So does this mean that all DEM but 1/9 or 1/3 is useless? No, but the lower the resolution, the more effort and care that the route builder has to take in order to make their grades, and terrain be close to accurate. In this example, this would mean using the increase & decrease height tools to build up the embankment to track height, and lower the river to its appropriate height.
In your situation I would suggest laying your track based on a grade profile/track chart as Hack suggested. You are in luck, and this route has one available. I have linked to it below. Delphi is on pages D6 and D7. The line is climing a 0.75% grade going from north to south on either side of the bridge. PM me if you have any trouble reading the chart.
http://www.multimodalways.org/docs/railroads/companies/NS/NS%20Track%20Charts/NS%20Decatur%20Division%20Track%20Chart%201-1-1987.pdfYou will probably find that in flatter areas, the slope of your terrain, and the grade profile will match closely. In more undulating areas, I would lay your track based on the chart, and then look at Google Earth and figure out if you need to raise or lower the terrain in game to match an actual landscape feature.
It will be a pain at first, but like anything, you will get better and faster the more you work at it.
Good luck!
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