taxable vs. roth/401k strategy

I know the standard advice is to keep equities in a taxable account and bonds in retirement accounts. However, I'm thinking of a different strategy.

My taxable vs. retirement accounts are about 50% each of the total. My plan, while working, is to use my taxable accounts to buy Vg's Interm Muni fund and use my Roth/401k for things like value stocks, RE & PCRIX.

When I retire I would sell everything and buy something like Wellesley or another balanced fund in both accounts for the simplicity & low volatility.

I know I should buy TSM & Tax-Managed Intl in my taxable account for *optimal* tax efficiency, but I'm just not comfortable holding mkt cap weighted funds.

Sound like a decent plan?