TDevil,
Something I've seen at big companies, is they will write their own specifications for all of these things, materials, finishes, etc. It's a lot of upfront work, but it has several advantages:
It keeps the drawing face clean, all thats on the drawing face is a number for material, a number for finish, etc.
It allows you to provide a list of acceptable alternatives to what you want. There may be a dozen types of paint you'd take, or maybe you just have some basic critera that if they are met you will be happy with the results.
It makes it easier to translate into different languages (if not today, down the road). Arabic numberals are pretty universal, then they can get the translated version of their standard.
It standardizes what you are calling out on your print. You don't get A36, A36 M, A36 steel, A36 HRS, and on and on. If you utilize a pdm tool (or even the basic file properties of you CAD system, controlling this can be very powerful.
It lets you write out what you want in paragraph form! No more cryptic sentences where every word is ALL CAPS and abbreviated!
Also, material thicknesses should be on the face of the drawing with dimensions, just to make the point painfully clear. Tolerances can be handled in your separate spec by calling out the appropriate national standard.
Anyway, these separate specs don't have to be very long, and if you create a template up front, you can crank them out pretty quickly (it will take you a lot longer to find all the info you want in them than it will take to write them). Most I've seen are between 2 and 3 pages, with a lot of dead space for headers, footers, titles, etc.
This is just based on a couple systems I've seen that I was pretty impressed with.
The Genium Modern Drafting Manual is a very good starting point for what you are attempting, its a bit expensive ($300), but there is a tremendous amount of information in it.
Finally, your CAD package probably has some default templates that you can use as a starting point.
Hope this helps,
Cameron