You've got the general gist but there's a bit more when you get into it. AP can pretty much handle everything if you just want one bucket to carry around but it's not the most efficient. "Topping" is a somewhat loose term as it can refer to mud for skimming, finish coats, or texture but there are several different formulations depending on the finish you're going for. The important thing to know with topping muds is that they don't have the glue in them that the others do so never use them to tape.
Other important things to remember, hot muds don't shrink but the whole "easy sand" label is a total lie. Its only "easier" to sand compared to plaster. Topper is the easiest to sand but lightweight APs are pretty easy to sand as well. Hot mud is the strongest but by far the toughest to finish with unless you're doing heavy hand textures that don't need to be sanded. Also, premixed muds and mesh tape aren't a strong combo IMO but I don't think mesh tape ever serves a purpose past rough patchwork. Paper beats plastic every time in my book.
I do a ton of reno work, lots of water damage repairs and patches. Typically 2-8 sheets per job and roll like this on most jobs. Hot mud to prefill, tape/cornerbeads and skim/float. Then lightweight to skim, finish and feather out edges a bit. This way I can get all my mud done the same day. Then come back when it's dry to sand and/or spray texture. I buy hot mud depending on the job size (small jobs all 20 minute, larger jobs 45-90 minute) then use lightweight TnT to finish.
For your size of jobs you could do just AP for everything as long as you're working a large enough area where you're not doing multiple passes the same day. Your wrist will thank you to switch to lightweight after you tape though. Same thing if you use topper for your final skim. Makes sanding a bit easier. Try some other stuff out on your next drywall job. You might be surprised.
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