SteveFehr,
Those recept loads, TV's (more than two?) and FRIDGES ect... must be very small. A 3500 watt generator will not operate one household clothes dryer. And I think it would be a stretch if you could power more than one fridge and two or more TV's plus your lighting with 3500 watts.

Obsaleet,
3500 watt will not do the job. Remember the sump pump, freezer and fridge are motor loads with high starting current. Plus you must account for the lighting loads. Thats why I use CFL's everywhere I can in my house.
Go to any generator web site and you will see a wattage calculator. You just plug in the loads and it will give you the size recommended. Of course it will be a little bigger than actually required.

Also, you really don't need a seperate panel for the generator loads unless you just want the extra work. You can use a mechanical interlock and use the main panel for generator distribution.

Trust me....Get the right size the first time. If not, I would save the receipt for the generator.