I vote you're at least in the ballpark. For 21 and 42k I've gotten much better results from this sort of longer tempo than "20 minutes @ hour race pace". 7 miles at half marathon pace would've been a bit much for me last I was training diligently - for an hour, I'd go closer to marathon pace - but that was within the context of double the volume, two workouts per week in addition to the long run, and a 40 year old body. Presumably you recover just fine with only the one workout.
You might also consider slowing down your long tempo a hair and adding a second "tempo intervals" (1-3 miles each) workout at half marathon pace, which gets you close to (the second half of) the Hanson "marathon training for mortals" -
http://www.runningtimes.com/rt/articles/print.asp?id=4447
Something like that, along with upping my mileage, got my half marathon down to 1:23 in fall 06, after being stuck at 1:31 for a couple years.