I've looked at state based versioning before but not implemented because previous WC versions did not (to my knowledge) bump the Revision when the State changed (i.e. Object was "Promoted"). Another factor was that sometimes you just want to get to the end game (Numeric Rev in your case). That being said, it is attractive in that you can get away from the file based Revision Sequence and the Documentation does show how to do an automatic Revision.
Are you sure you need different States for Alpha and Numeric Revisions? Does State="Released" + Rev="A", and State="Released" + Rev="1" communicate the same thing as State="Alpha Released" + Rev="A" and State="Numeric Released" + Rev="1"?
If the end goal is to differentiate editable - not editable - dead, then the Lifecycle you have probably does the job.
As an adder, I recommend using "In Work" instead of "Design" if you ever get to WTParts because then users, especially casual ones get confused between the Design State and the (Design) View.