The best way to work with EWQLSO (or similar libraries) in Cubase, in my opinion of course, is by way of Instrument Tracks for each instrument in the orchestra, orginized by family with Track Folders, and triggering articulations via MIDI Channel commands using Expression Maps. Unfortunately, Cubase Artist doesn’t support Expression Maps, but there is another way to achieve the same (though not as elegant). You would have to use the VST Instrument Rack to load each PLAY instance, together with the List Editor to assign each note the corresponding MIDI channel based on the needed articulation.
This works well, but it has certain annoyances like 1) the fact that one cannot rename the synths loaded in the VST Instrument Rack. Every PLAY instances will have the same exact name, which can make it hard to identify which one is which once you start moving MIDI tracks around. Speaking of which, another annoyance is 2) not being able to change the order of the synths in the VST Instrument Rack. That means that if you want to insert another woodwind instrument (assuming you organize your project the same way as you see them in a score) then you will have to place the new instance at the bottom of the rack. Not a big deal since you CAN move MIDI tracks around, but an annoyance nonetheless. If you’re a neat freak like me, 3) you’d also want to hide tracks to make the project more tidy (not necessary with Instrument Tracks) since you’ll end up with two tracks per instrument (1 Audio and 1 MIDI). This actually answers your last question (yes, you will have control over volume for each track with both methods).
The good news is that you’ll at least have a more manageable project with fewer tracks (assuming you hide unnecessary ones), from both views (Track and Console) as opposed to the one MIDI track per articulation method. However, nothing beats Instrument Tracks, in combination with VST Expression Maps, for it’s simplicity and flexibility. I find it to be the best workflow for this type of work.