Your proposed rack is actually very similar to my current rack, so I'm going to tell you that you are on the right track. :)
I would recommend eliminating one of the sequencers and adding a Pamela's New Workout as a master clock (and more). You could add a Euclidean Circles to Pam's and the Eloquencer and have a pretty powerful combo. It may be wise to eliminate the Mutamix and invest in a larger CV-able mixer like WMD's Performance Mixer. I think I would make do without the patchbays, and replace them with a buffered mult or two, maybe something like Mutable's Links. That's my preference, anyway.
Ripples is a great all-around filter, but it might be worth investing in two completely different styles of filter (Font and Ripples appear to be very similar). G-Storm Electro is making some cool reproductions of classic filters. A low pass gate would probably add some new flavor as well.
These are just a few things that came to mind as I was taking a once-over on your rack. You will have a blast with something like this, but take it slow... Just a few modules to start with until you realize what you really NEED next. It may turn out completely different than what you are planning now. Be adaptable.
Have fun and good luck!