After working through this when it first came out I decided I wanted a master materials blend file. I looked around for the best way to do this and found Alfonso Serra's Matlib VX 5.5, it was just what I was looking for. So I have gone back and begun building up my shader data base starting with paint shaders.
Link to Matlib VX 5.5 should any of you want to give it go.
https://sites.google.com/site/aleonserra/home/scripts/matlib-vx