JR Pass and Itinerary Suggestions

Hi,

Me and my Girlfriend will be traveling for 15 days around Japan for the first time.

We are on a budget, will it be cheaper to buy the JR pass ? or buy individual tickets at location ?

Also would it be easier and more convenient if we stay longer at a hotel and do day trips than constantly traveling along with our luggage ?

Here is our planned incomplete itinerary.

Wednesday 29/10/2008: Arrive at Osaka airport 7PM. To get started, We have booked a place in Osaka for 3 nights.
Thursday 30/10/2008:
Friday 31/10/2008:
Saturday 1/11/2008: Leave Osaka around midday, travel to Tokyo spend 3 - 4 days ?
Sunday 2/11/2008:
Monday 3/11/2008:
Tuesday 4/11/2008: travel to Kamakura, spend the night or go back to tokyo ?
Wednesday 5/11/2008: travel to Nikko, spend the night or travel back to tokyo ?
Thursday 6/11/2008: Travel to Takayama, spend a night or 2 ?
Friday 7/11/2008:
Saturday 8/11/2008: travel to Kyoto for 2 days
Sunday 9/11/2008:
Monday 10/11/2008: travel to Nara spend 1 night
Tuesday 11/11/2008: Morning to Mt Koya, noon to Hiroshima spend 1 night.
Wednesday 12/11/2008: Morning to Miyajima, Afternoon to Fukuoka.
Thursday 13/11/2008: Watch Sumo for whole day !! ( Will this get boring ? )
Friday 14/11/2008: Travel back to Osaka Airport, Flight at 8 PM


So far the Top of the list that we like to do:

Visit Studio Ghibli
Takayama
Watch Sumo wrestling, According to the Sumo schedule, Fukuoka Kokusai center from Nov 9 to Nov 23.

The amount of ground you want to cover suggests a 14 day JR pass would be a must have.
That Sumo match must be pretty important....it is one helluva detour.
I would be inclined to base myself in Osaka ( I always stay at Shin Osaka for convenience to trains ) for the whole time that you need to cover Osaka, Kyoto, Nara, and Koya (Koya is not JR ). Then I would go to Takayama and on to Tokyo. For Nikko and Kamakura return to your Tokyo hotel each night.
Then jump Tokyo to Hiroshima, and if you must, continue to Fukuoka.
Just make sure and count backwards from departure day for starting your 14 day pass. That last day will cost a lot more than a trip in from Kansai airport and some time in Osaka.
You can check fares at http://www.hyperdia.com/cgi-english/hyperWeb.cgi

Just a few suggestions on the number of nights for each place:

Osaka - 3 nights sounds a bit long (for just seeing Osaka that is)
Kamakura - a day trip from Tokyo is sufficient, you can return to Tokyo for the night
Nikko - yes, one night would be nice if you like hot spring
Kyoto - you can stay longer (depends on your preference but...)
Nara - a day trip from Kyoto is sufficient
Mt. Koya - one overnight stay is recommended
(That day traveling from Mt. Koya then to Hiroshima sounds a bit busy)

Thank you for the reply Guys. I have revised our itinerary to mainly stay in Osaka and Tokyo then using the Bullet train to travel to nearby locations to save on carrying luggages and changing Hotels.

Would all of our trips below be covered by the JR 14 day pass ?, say starting from 1/11.

What time are usually the last bullet trains at night ?

Which place would be best to try out a ryokan, with reasonable price ?

Wednesday 29/10/2008: Arrive at Osaka airport 7PM. To get started, We have booked a place in Osaka for 3 nights.
Thursday 30/10/2008: Sight seeing around Osaka
Friday 31/10/2008: Universal Studios
Saturday 1/11/2008: Travel to Kyoto return to Osaka
Sunday 2/11/2008: travel to Nara return to Osaka
Monday 3/11/2008: Travel to Mt Koya return to Osaka

Tuesday 4/11/2008: Leave Osaka in the morning to Takayama staying overnight
Wednesday 5/11/2008: Leave Takayama in the afternoon to Tokyo

Thursday 6/11/2008: Tokyo spend 3 - 4 days ?
Friday 7/11/2008: Studio Ghibli
Saturday 8/11/2008: Sight seeing around Tokyo
Sunday 9/11/2008: Morning, to Kamakura, then back to Tokyo
Monday 10/11/2008: Morning, to Nikko, then back to Tokyo ?

Tuesday 11/11/2008: Leave Tokyo in morning to Hiroshima spend 2 nights. Would it better to stay in Miyajima or Hiroshima ?
Wednesday 12/11/2008: Morning to Miyajima, Then back to Hiroshima.

Thursday 13/11/2008: Morning to Fukuoka spending overnight to watch Sumo.
Friday 14/11/2008: Morning Travel back to Osaka Airport, Flight at 8 PM