I prefer bullets, but I think your approach works fine.
I've got a 7-8 year post undergrad work history. I chose bullets, but that forced me to 2 pages. I think it's a personal choice either way - your approach and 1 page, or the bullet approach and 2 pages.
Those just graduating from college don't really understand the dilemma of wanting to get down 7+ years of real, solid work experience on paper. Usually they're trying to FILL one page, not keep it down to one page.