yeah, that will work. Being that you're in CA, you don't have some of the drawbacks, that many of us have to deal with in the colder, wetter climates.
just an idea, but if you're drilling the slab anyway, why not roughen the slab too, use longer studs and epoxy them into the slab and pour the top of the stem wall with a construction joint and drill and epoxy rebar into the end of the stem wall to tie it all together.
Another reason to do that is if you want to "swab the deck" or pressure wash the slab, you don't have to worry about wetting the bottom plate of your shear walls.
