That's how I'd play it, but it's personal preference.
4-4-2 is quite versatile, the only time you'll have problems is if the oppo overloads his centre with AMC's or extra STs.
My personal formation is similar to yours, except instead of MR/ML, I play AMR/AML.
Usually, the only changes I make, to counter oppo formations, is to take an ST off and stick a DMC in, making it a 4-5-1V.
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I don't claim to be a Top Eleven expert but, if anyone would like advice, please don't hesitate to contact me through 'private messaging', I try to reply as soon as possible.