Good golly, I likes that! That is much easier to understand. I understood it on one reading. You say you use full wheels, eh? That forumula you came up with has the benefit of an abbrievated wheel but playing a full wheel. Nice stuff.
I thought in the formula I described, E was the number of tickets to play (in my example, 50). But your formula makes things a ton easier to understand.
So putting my example into your formula, it would be 5W 5H 10N 50T.