That is similar to what we used to call label leverage (depending on your PAP). Label leverage is when you place the cg in the middle of your grip, and the pin at 3 3/8" from PAP. It allows the ball to rev up, with out hooking too early, or being to angular. It's good on a variety of patterns when you want control, and don't want to use an extra hole, but still need the core to produce flare.
The only reason we don't really use the "label leverage" moniker anymore is because based on the pin distance from Cg, and PAP, label leverage is technically a different "layout" for each bowler. It is kind of like using the "Rico" layout. Technically, everyone's "Rico" layout is different because of everyone having a different PAP.