Hi drog,
It would probably be OK but I would personally prefer a similar type of foundation with more longitudinal wires so that the grid has less gaps and is more evenly supportive (less risk of the flexible latex sinking into the gaps).
The foundation thread here has some links to similar bases (along with many other foundation options) that are either a little lower in price (for 6 or 7 wire versions) or a little more for a 10 or 11 wire version (which would be my choice in this type of frame/foundation).
Phoenix