I have mine set up very similar except I don't have a bin for the books just a bookshelf. One bookshelf for each child. I have two in Bigger right now and already went thru it once with my oldest.
Military wife and Mama to 3 (DD12, DS8, & DD7)
Have used: Little Hands For Heaven, Little Hearts For His Glory, Beyond Little Hearts For His Glory,
Bigger Hearts For His Glory, and Preparing Hearts For His Glory. http://livinglifeonthehomefront.blogspot.jp/