I like... It's clean.
Although you'd want to notate that there's a custom condition in the admin summary, otherwise it might be difficult to determine why it's not executing. Also it would need some debug to state the results of the execution for debugging.
If your in SQL 2005+ you can use Try/Catch block and/or Transactions. We've been trying to work out a regular 'SQL Pattern' that uses both to catch most errors. (The exception is usually OWS Token Rendering errors, that create SQL Syntax Errors).
There is the [QueryName.isSuccessful,A] detection method, but it has limitations. (For instance the when importing .CSV to SQL you can't check line by line). But barring SQL syntax errors, the above covers most everything.