4 tables is probably too much, I'd suggest 2 as you don't seem to be very good. The idea behind the plan is correct though.

40hands seems a very low amount, I always estimate 70 hands an hour per table and this is a very conservative estimate. What makes you get 40?

2 hour sessions are probably too long, if you can do it fair enough, but concentrating 100% on multiple tables is quite hard to do.

And you should be studying at least as much as you play, probably more. 30 mins studying is just lol. What do you expect to do in those 30mins that's going to be of any real use, it takes about that long to go through a hand properly and that's when you have done a few so know what you're doing.