The track was red, road pieces were light blue. Locos, wagons and passenger carriages came in combinations of red, light blue, yellow and green. Wheels being black. The points came in moving and 'solid state' varieties (no moving parts - make the loco go one direction and the carriages generally followed). There were double slips (again, no moving parts) bridges, turntable, stations, buffer stops and also ramps that allowed the trains to go off the track (as a kid I didn't like these pieces ). Anyway, I can see similarities with this and Brio trains. Just these weren't made from wood.
Wow that brings back memories! I can also recall there were short adapter pieces that had a hole at each end (instead of a knob at one and a hole at the other). I too hated the ramps, although I usually put them on one of the turntable roads as a means of getting rollingstock onto the railway
Of the things you mentioned I had:
-2 locos (one was yellow, the other was the same as the one in the pic)
-2 pass cars (one red, one blue)
-1 goods car (same as the one in the pic)
-2 sets of points (1 left, 1 right)
-1 double slip (may have had 2)
-1 station (the building broke off!!)
-1 bridge (may have had 2)
Another thing I just remembered was that I had another set that was compatable (track fits) but had a darker coloured (burgundy?) track. The train I had for that was a small 'American' style loco and two end platform passenger cars. I think the couplers were also compatable. It all lived in the same box anyway. Maybe this was an updataed version of the original?