Like Mul said, that build will work just fine for PvP and MAYBE instances. I am the last person here who will comment or give advice on PvP. I hate it, I loathe BG's and am not a huge fan of Arena, save what I need week to week. If you want to go with PvP for your toon, you will do just fine with that.
However if you want to mix it up http://www.wowhead.com/?talent=cZVVbRVuReotIh0Rto will give you longer and better traps, a little bit more dps (3/3 Careful aim), and Deterence. Any hunter worth a **** should be able to effectively CC in an instance, chain trapping at least twice in a row if needed. This build will give you a slight edge in that aspect of gameplay.
http://www.wowhead.com/?talent=VxZVqbRVzhestrhhMz Here is the MM build from the FAQ, Even more DPS and PvE utility. Similar trapping prowess, with IAotH for better all-around DPS.