Yes, I think you've got the right idea. It would be preferable to use the convention used elsewhere, so if you've got the time and the inclination, please make the change!
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One wrinkle - we're trying to make upgrade SQL files when we change things, so existing ACS 4.2 users (both of them?:) can move a site over easily if they want. So you want to write an SQL script to drop the old procs and add the new ones and put it in sql/oracle/upgrade. We've been calling our new version "4.2.1" at the moment, for lack of any better idea, so a "4.2-4.2.1" upgrade script would be just the ticket!