If you don't mind me being frank that is an aweful routine! I suppose it depends what your goals are but assuming you want to build mass and increase strength, that is NOT the best way to go about it. There are lots of good routines available and it depends on your body type and also your experience level.
However, a good routine for the average person should consist of between 6-10 working sets (not warm ups) and three exercises, once per week.
Each set should be taken to failure and failure should typically occur in the 6-10 rep range while will ensure you are using the proper weight.
Good exercises inlcude:
Barbell Flat
Dumbell Flat
Barbell Incline
Dumbell Incline
Wide grip dips
Flat Flyes
Incline Flyes
Cable crossovers
Pec-dec
and occassionally declines
Mix them up but onlly use three per workout. Use different permutations to keep your chest guessing, and therefore growing. Find the ones that give you the best pump and best results. For me, incline dumbbells are a staple and I usually do them first. But what works best for you will depend on your bodytype, the points of insertion of the chest muscle, relative strength of your shoulders, tris and abs, etc.