Yep, it should be the same Ryder's lane. When my wife (then girlfriend) was living on campus, I would frequently take Ryders Lane to get to Douglass campus (she lived in Henderson Hall). It's no more than a five minute drive from there.
I suppose you could do the walk in 20 - 30 minutes each way, but I have no idea what their schedule was. On average I get down there 2 - 3 times per month. That was the first time in three years I have ever seen anything. The line could be more active, but I suppose it would help to have a schedule of some sort. It was just dumb luck that we came upon the delivery / pickup. If you're heading towards East Brunswick from Rutgers on Ryders Lane, Cotters Lane will be on the left just after you pass over the NJ Turnpike (If you hit Acme / Home Depot you went too far). Follow Cotters Lane until you get to Mauser.. and voila! Rail cars..