1) Where is it near?
2) Right angles ideally, but if you ask Exeter for a change of heading almost certainly it will be given
3) Watch the gliding launch at Maiden Bradley
4) Track along the railway line at Corton and you can take in Madonna's residence if you really want to, Longleat House, Wing Farm, the launch for the Red Bull team, etc
5) I'd still go from the reservoir to Clovelly and route along the coast for the scenery!
Enjoy. I shall be going the other way tomorrow.