I think that's a good start on a practical approach, and it certainly illustrates the process!
This reminds me Garden Dweller of our fairly recent discussion of a "Pleasure Maximizaton Worksheet." If you have not seen that you might find it interesting to bounce your current thinking against that approach. I did not end up developing it further for a variety of reasons, but what you are doing is similar to any approach which provides suggested guidelines and suggests a way to weigh and balance the result: A Draft Epicurean Pleasure Maximization Worksheet