Mg as Total Hardness is not the same as Mg.
How to Brew - By John Palmer - Reading a Water Report
"To get Mg (ppm) from Mg Hardness as CaCO3: Divide by 50 and multiply by 12.1"
68/50*12.1 = 16
And while we are at it...
"To get Ca (ppm) from Ca Hardness as CaCO3: Divide by 50 and multiply by 20"
48/50*20=19
According to the calculator :
Sulphate : Chloride ratio highly bitter
Alkalinity and SRM pale beer (0-50 ppm Alkalinity)
Estimated pH pH = 5.83, residual alkalinity = 20.07
In other words your water suits very bitter pale beers. If you want to brew malty/sweet beers like an irish red or wheat, then you need to play around with some additions to either increase your chloride (which will reduce bitterness and emphasize flavor/sweetness) or reduce your sulfates (which will weaken the emphasis of bitter).
"The sulfate ion also combines with Ca and Mg to contribute to permanent hardness. It accentuates hop bitterness, making the bitterness seem drier, more crisp."
"The chloride ion also accentuates the flavor and fullness of beer. "
Think of it this way:
Chloride=flavor and sweet
Sulphate=Bitter
Basically, just read chapter 15 of How to Brew and listen to the Brew Strong podcasts on water:
The Brewing Network.com - Shows and Podcasts: Brew Strong
Then play around with the calculator you linked. It is based on the information in How to Brew, so you can enter your real water parameters and find out what additions will help you to brew a malty, pale to amber beer. I have water very similar to yours and I guarantee if you try to brew an Irish Ale or wheat beer without fixing your water it will taste like crap.
Also visit the Brew Science forum on this site. Even though it says Brew Science it should really say Water Science. There are also some good threads on water quality in the All Grain forum, so do a search for "water profile" or "water quality".