Gundog,
First off go for it.
Is your molasses clarified? This makes a big difference. On the yeast i would stick to a rum yeast first like rm or sr then move on to experimenting with yeasts. Youll want to remove the variables when starting out. I would also open up the plates on that still unless your looking for a light rum. 85 is the higher end for rum . 60-70 for fuller bodied rum. Best of luck