Not a bad list, but I've never understood the reasoning behind frequency word lists. The 5,000 most common words in a new language are the ones that I need to worry about least, simply because I'm going to be encountering them so frequently.
For the record, I've found that very little can match forcing yourself to speak your target language with native speakers. Back this up with studying vocabularly and grammar on your own. Hard work, but incredibly effective.
I think learning the top 3000 words makes it easier to get more passive help from books, newspapers and television. For me, there is a threshold when I improve without really trying, just by reading and listening. It's not the most efficient method, but I don't have to sit down and study.
Yeah, establishing that baseline of 2-3k works is what makes most of what you read comprehensible, and allows you to pick up more vocabulary and understanding through context, which I think is pretty much the key. I actually do think it might be the most effective method once you're at that level.
For the record, I've found that very little can match forcing yourself to speak your target language with native speakers. Back this up with studying vocabularly and grammar on your own. Hard work, but incredibly effective.