Good afternoon James. Posting your test results are very helpful, and it appears E2 is not the culprit. Even if E2 levels were higher I doubt that some of the symptoms you are experiencing would manifest that quickly, specifically the "chick nipples", which takes many many months of estrogen interaction to stimulate breast tissue growth. As for the acne, have you been prone to it in the past? When you were younger? Bringing T levels to youthful ranges can often cause re-occurance of hormone related issues experienced in youth, particulary acne. My dad experienced terrible acne for the first time in 20 something years after starting TRT, just from 100mg QW. The only thing that mitigated it was switching to a low dosed gel which keeps his levels between 500ng-650ng.
The emotional effects are something I observe often in patients within their first 90 days of starting TRT. There can be a lot of things at play here, in addition to underlying tendencies towards anxiety/depression. The psychosomatic effect of starting a life-long therapy can be under estimated, and men tend to begin over thinking everything that is going on in/on their bodies. You start paying attention more to yourself. Also, there is a lot of neuro-hormone balancing which can occur when sex hormones are manipulated. Some men feel more anxious, some more sleepy, some manic, etc during the first few weeks/months of therapy. Some lucky guys only feel the benefits.
I think splitting your dosage will be more noticeable than lowering from 160-140 once per week. IMO this decrease would be negligible unless you are super sensitive to minute changes, which is quite possible. Splitting your dosage would provide more stability in blood levels.