A few months ago I started doing something like this, and was feeling very confortable, but stopped going to the gym shortly so wasn't able to find out what the results was heading to.
The way I was doing was..
Monday - Chest
Tuesday - Back
Wednesday - Shoulders
Thursday - Legs (Quads, Hamstrings, & Calves)
Friday - Arms (Bis & Tris)(going back and forth between a Bi and Tri exerciser)
Doing Abs and Cardio work every other day (Mon - Wed - Fri). Hitting each part hard (3-4 exercise to each part)
So I guess I have the same question.. can something like this conflict not allowing enough rest for each part?