Is this lighting setup good?

To veg proplerly...look for the daylight 6500K cfl's...you are going to need at least 5 per plant...but i would go with 7 or 8 per plant...make sure when the plant starts getting taller to have the lights above and on the sides of the plant. HAving a few 2700K or even 4100K (warm white & cool white) bulbs with your 6500K is a good thing...but make sure you're concentrating on the blue end of the spectrum. In my setup i had 7 lights...5 6500K and 2 4100K...and i had some amazing growth.

During your flowering cycle you would just reverse the light setup...i went with 7 2700K bulbs and 2 6500K...if you want you can put all your lights in there if you can...more light the better...but just make sure that you concentrate the red end more then the blue during flowering.