Hi Mark
 
I think you are on the right track however I think the extra holes in the inner
cover may be a bit much. The bees may try to propolize the holes to cut sown on
the light.  If they don't, then you are probably ahead of the game because
proper ventilation is crucial both in winter and when the bees are ripening
honey.
 
I use a method recommended by Dr. Deleplane. I tilt the hive forward in winter
and prop the back side of the telescoping cover open with an old queen cage
laying flat. This allows warm moist air to vent out the back side and condensate
runs down the cover and down the front of the hive and out.  In summer I level
the hives and turn the queen cage up on the side.
 
I suppose it does not matter which method is used as long as good ventilation is
accomplished.
 
Frank Hunmphrey/Chattaanooga,Tn.