Paul, that's all that you need. the two manuals. I would suggest using a separate voltage supply for accessories or one channel of a multi-channel supply in the 12-14vac range.
There are multiple gates from MTH-which one do you have?
The manual and a set-up video for the 153IR from Lionel is here
1. Position the 153IR where you want them
2. Get power to the 153IR
3. Connect the crossing gates to the correct terminals on the 153IR
4. You'll need to wire the gates to each 153IR and adjust the timer so the gates won't stop until a train clears the second gate and the gates are triggered from either direction.
AcelaNYP,
I don't think it is easier to use the insulated rail technique. Just another way to get it done. You just re-aim the lighting or shield the sensor if you encounter difficulties.