Below is the order I followed recently to install and configure a 4-server SharePoint Farm.
* Update: I was discussing the order of installation with a colleague and got the news that the Dec 2011 CU Hotfix package (2597014) "The full server package for SharePoint Server 2010 and contains also the MSF2010 [SharePoint Foundation] fixes so you need only this one package." - no need to apply the CU for SharePoint Foundation.
Here is a link to the post:
You are correct, after SP1 you don't need to apply a CU both for foundation and Server, a server CU is cumulative even for Foundation!