I guess I would do more exercises than that. I'm all for simplicity, but you could add a few more isolation exercises and still stay within an hour for your workout, especially if you do some supersets. I've set some clients up on push/pull splits, and have had good results with something more like this. Just an idea...
Single-leg squat work or quad iso.
Incline bench or military press
Maybe additional tricep/chest iso.
Deadlift or stiff-leg Deadlift
Rear delt flies
Maybe additional bicep work
Similar exercises to day 1
Similar exercises to day 2
Ditto Day 6
Glutes get some work on both Day 1 and 2, but this hasn't been too much of an issue for a 3 or 4 week program. Both the men and women I've got going on something like this have had good results, felt they got enough recovery and enjoyed the workouts.