I think that you mean 7.2.4
That subwoofer placement is a lot better.
I am still concerned that your rear overheads and rear surrounds are pretty much stacked on top of each other, but with the in-ceiling speakers being very tall in the rear, hopefully you can get some good separation between those and the rear surrounds. I would think so as long as you aren't mounting the rear surrounds 10 feet off of the ground or higher, you will be ok. Ideally still down to just above the listener seating ear height.
If you can swing that, then you will have a really sweet setup.
