Basically... yes.
First of all, I would allow you to have Compassion as your flaw. I wasn't perfectly clear - you can drop a "species" Virtue from your groups. The "Human" and "Ork" and "Eldar" groups are only mandatory for "everyman" Human, Ork, and Eldar characters. If your character is really strongly something else (ie. a Fire Warrior, an Ethereal, a Weirdboy, whatever), then you can drop the species affiliation.
Also, your name should include an actual name, and an explanation for why that name grants that bonus (ie. you are named after a famous hero, you were named by someone who had certain intentions for your life, etc.)