Please tell me if this is correct.

I really only see one thing that kinda freaks me out, and that is the single reservoir master cylinder.
If you loose seal on any of the four brake cylinders you loose all of them with a single master.
My Dad used to tell me "For every dollar you put into the go, you should put a dollar into the stop." :D
Can't really take that literal, but it's good thing to keep in mind.