Building External Storage Box - some questions

Hello guys,

I want to build myself an external usb2 storage box, i am going to be using a MicroATX case and a 400W PSU, i want to run the following:

4x Sata HDDS
1x Sata DVDRom
1x USB Card Reader
4x Empty USB Slots (already built into the case)

i will also have the following to use:

2x 7-Port powered usb hubs

now the basic idea is as follows:

Install each of the 2 7port hubs

Hub1:
3x HDDs
2x USB2 Ports

Hub2:
1x HDD
1x DVDRom
1x Card Reader
2x USB2 Ports

I will be using Sata to USB convertors on each of the drives however i will power them from the internal PSU

I will be powering the USB Hubs from the internal PSU too

the two hubs will then be connected to a 2port usb hub with a retractable cable that will connect to my computer, so essentially their will be only 2 external wires: power and usb connection

i know this will take some cutting and soldering of wires to get it running well however i just wondered what you guys thought about this from a technical standpoint.......will it work?