That is a fine option and should work very well.
- Your solution addresses the majority of the concerns of a "hot deck" or unvented attic.
- If you are going to install home foam insulation over the baffles, I would build my own baffles rather than use the cheap foam ones you typically see with fiberglass.The cheap baffles are not rigid enough to withstand the expansion of the foam and you risk closing off your ventilation channel.
I would build my own baffles with either rigid foam or plywood. The rigid foam will also give you some additional R-value. Even better, use a foil-faced rigid foam with a minimum 1" airspace and you have a radiant barrier in your assembly as well.
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Check our best attic insulation Q&A to see what other homeowners and contractors are saying about attic ventilation, open cell vs closed cell, etc.