p-line, mono and leader question

I bought a Penn 340 GTI and 6/0 rod combo at a garage sale, I am going
to be fishing for kings, jacks and snapper, with a occasional shark or
2 for fun in the Gulf of Mexico.
I've researched it through a couple of buddys that visit cobo twice a
year and the i-net and have come to the decision of a base wrap of 40
lb mono tied to 500 yards 65lb p-line spectrex tied to about 100 yards
of 65lb mono for shock absorbence tied to 5 yards of 65lb florocarbon.
Am I nuts? sure sounds like a lot of knots. Am I going the right
direction?