I echo twice weekly frequency on every muscle group, just like RTC wrote.
The above routine looks good.
I would just add something more for the legs, because I don't think only 2 lifts a week (squats + deads) is enough. Just add something like lunges, lighter squats/front squats or leg press to the deadlift day and its solid.
Here's where supersets come in super handy, especially to do more in less time.
If you alternate chest/back sets and do lunges and bi's/tri's at the end, you cut a chunk of time out of your workout while still doing your entire body twice a week. It might require slightly over an hour in the gym, but there's no reason you can't do 6-8 exercises in an hour if you do supersets.
Lunges/split squats/front squats/LP etc anything is easy to fit in. I prefer doing things with DB's here though because it's easier than hogging a power rack while doing a superset.
Mark, if you do this while keeping your diet in line, you're going to be awesome.