I think that's a workable setup. Personally, I'd like to try one myslef if only for the simple reason of trying one out.
As for slide speed, try it out stock. If it feels sluggish, lighten it with holes.
One thing about it though is the recoil spring. You'd be hard-pressed to find one for the 6" locally. So have your smith custom make you a reverse plug that'll work with springs for a 5" slide.