That's the way I do it. One of the things I missed though:
Your subwoofer doesn't use a speaker wire connection (typically) since it has a built in amp and is fed via RCA connection. I ran the RG-6 for the subwoofer, but I didn't double check that POWER was next to the sub. The closest power is several feet away. If possible, use a double gang box with a low voltage separator and run the RG-6 to one side of the box, and power for your sub to the other side of the box.
Did that at a neighbors home and it looks great.
I used wall plates for all my Speaker, Phone, and Ethernet connections throughout my home. It works well, everything is labelled, and it will be easy for me to uninstall everything else when I move.