that looks fine... if you were looking to save some money, you could easily do away with atleast the upper-most ball valve on the pot, and possibly a lot of the fittings on it. you have a few options for that one...
1- do nothing, just put the end of the hose in the kettle over the top and find some way to keep it from falling out (duct tape, wire, zip tie...). obviously not the most secure way to do it, but very cheap.
2- put the return line on a simple weldless hose barb. if you put it above the liquid level, you wouldnt have to be concerned. if it was below the liquid level, you would need to keep it hooked up to the pump/valve, obviously. could be mildly irritating to have to keep in mind, but would save some money.
3- in addition to #2, put a camlock on the weldless fitting for easy disconnection, but get rid of the valve. optionally, you could get rid of the valve on the pump, as this return kettle valve will also limit flow. a march pump wont produce enough pressure to burst even soft silicone, even if the valve were closed, so that flow rate valve could pull double-duty as a kettle valve.
4- do it like you have it, which is nice, but costs extra money.