I too can get better MPG by not using the cruise control.
That shows you have good intuitive throttle modulation. Some people are helpless when it comes to that.
If the instant MPG meter is not lying, it seems that a good WOT operation followed by normal cruising causes better instant MPG readings at normal cruising. This could be explained by better thermal efficiency that is gained after properly heating the engine. If this is true, it may be that babying the throttle too much can actually hurt your MPG
However, getting the best instant reading always involve feather & consistent throttle application, when the engine switches to the Atkinson cycle.
I agree with most of the general principles you described here. But WOT will cause downshifting and running to redline. While I agree that strong acceleration has mpg benefits when done properly, it is never necessary to run it to redline for good mpg's (only for max acceleration). I do think there are MPG benefits from running it up to 4500-5000 rpm's with throttle wide open but it's helpful to use the manual shift to prevent the engine from running all the way to the rev limiter before it shifts. This is best done on long, steep grades otherwise you will be into triple digits before the engine has benefitted from the hard running.
The CX-5 is not like old school cars where the throttle plate angle is directly proportional to the accelerator pedal position. Sometimes the throttle plate will be wide open when the pedal is only depressed halfway. If that's what you mean by "WOT" then I agree. But without additional equipment hooked up it's difficult to know when the throttle plate is wide open and when it is not. Further complicating the definition of "WOT" is the variable valve timing.