Tim,
Given the requirements of the nurture program that you have in your diagram, I wouldn't use the standard Marketo engagement programs because:
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All of the green "Open" arrows indicate that in order to receive the next piece of content, the first email must be "opened/clicked" and the engagement program is set up to move on to the next piece of content regardless of level of engagement. Forcing the "Open" rule on an engagement program will be very un-natural.
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You have a rule for "All" to be transitioned back into the main nurture track after all of the side track emails are exhausted - which is also not a natural move for an egagement program. it's possible, but probably more complicated than you'd want it to be: https://community.marketo.com/MarketoIdeaDetail?id=08750000000IwhRAAS
I would either create this campaign as a "traditional" non-egagement program with a traffic cop, or change the requirements to better match the methodology inherent in the engagement program.
Hope that makes sense...