That's exactly how you need to do it IMO. I could be wrong but without a pinion depth tool I don't think those numbers you are reading do you much good. Take the shims from your existing setup, set it up using them and the setup bearings/race, odds are you will have to add or remove a few shims to get the preload on the bearings, from there move shims from one side to the other until you get the backlash in spec, run a pattern and see what you have, odds are the pinion will need to move in or out so you just add or remove shims from behind the setup race, reset backlash by moving shims one side to the other on carrier, run pattern, repeat etc until you are happy with it. Sounds a hell of lot easier than it is though. Use your old nut on the pinion until you are ready for the final assembly.