It's going to be a personal preference how you want the mainsheet system to work. If you leave it like it is then it should work, however you could move the ratchet block to the boom like diagram B.

If you keep it like it is, you're going to have the traveller rope and mainsheet rope both in the same place, and for sure you're going to pull the wrong one as they're both white ropes. I'd suggest that you remove the rope from the traveller system and if you've got enough slack, loop the end of the mainsheet rope that comes out of the ratchet pulley, through the cleat and traveller car so that you end up with a loop of rope, not two separate ropes. That's how my hobie is and is actually easier to use as there is only one rope to control, not two.

At the end of the day, the purpose of the mainsheet system is to be able to pull the sail in and out. If you can achieve this and you're comfortable using it, then it will work.

Start with this system, and I'm sure once you've used it for a while you may want to upgrade the blocks as you won't be able to sheet in very tight with the blocks that you've got, which affects the rake of the mast and affects the upwind performance, however this topic is for another day!!

On the picture the comment to "set and forget" isn't good. You should move the traveller depending on your point of sail. Upwind, you bring it close to the centre and downwind you move it out. It helps stop the boom rising giving you a bad sail shape. Use it and you'll be a faster sailor at the end of the day.