I think your strategy is a good one. Just be sure to play the ring games at the lowest stakes tables so that you won´t lose your 50 bucks in a weeks bad run.

Also, the strategy makes you better primarly at tournament play. Ring games are much different and I think that if you keep yourself in the low stakes section and mainly play ring games, that is just as good considering your profits.

There is a slight lack of logic in your reasoning:

play in the ring game only long enough to get one or two buy-ins to the new step tournaments on PP.
If you´re that sure of being profitable in ring games, then you shouldn´t have to worry about losing in the long run. That is as long as you stay in the games that your bankroll can afford, which you must do even if you just play to pay the buy-ins.

I think it all comes down to what you like the most, and which field you are aiming to be good in. Tournaments are fun, and if you like them and want to be a profitable player, your strategy is great. But someone who likes the ring games and wants to specialize on that would certainly need another strategy.

Good post.

W.