I've used elevated loops of traditional "O" track from time to time, sometimes I even include elevated switches.
I like to put extra trestles under the middle ties on the curves. Otherwise the track will twist slightly under the weight of at least some engines.
In order to elevate 022 switches I put a trestle under the end of the swtich motor, and make little aluminum plates that attach to the diverging end of the switch and the adjacent tracks through their mounting holes. The outline of the plates match the switch and the track, so they are not noticeable. The plate does not cover the enitre bottom, it just covers enough to make it to the mounting holes.