TFS Source Control Strategy

I'm considering which startegy to use with Team Foundation source control.
I'm thinking of:

• One main branch for the next release. Most of the work is done on this branch.
• One bug fixing branch for a released version. This branch lives until a new version is released.
• Temporary branch for changes needed to be enter to the next version prior to the current version release.
• Branches for feature development that cannot be implemented in one release

Should look like this:
$/{Project}

• main (v2.0 development prior to a release)
• v1.1 (v1 bug fixes)
• v3.0 (temporary branch until v2 is released)
• FeatureBranch (for big developemnt effort that cannot be implemented for the next release)
  
  
  

• Developers work on the main branch most of the time
• If they have a fix for a released version then they need to merge it to the next versions too
• When a temporary branch is opened the main branch should be merged to it often
• When a feature is decided to be released it should be merged from the feature branch to the main branch
• The main branch should be merged to the feature branch one a week