That sounds like a very sensible plan, except for one lesson per week. GF 1 has 155 lessons. Doing one lesson per week would therefore have taken you 3 years to complete GF 1. I believe that GF 2 has at least that many lessons as well.
You really don't need to do the lessons with the backing track every day for 7 days. As soon as you can play it consistently at the 0.5 speed that you're using, then move to the next lesson. At half speed, you should be able to play it reasonably well after one hour of practicing. But, even if you still have trouble with a play-along after trying for an hour (and you will).... move to the next lesson anyways. The point isn't to completely master every play-along. The instructors put those in there mainly to provide an opportunity for beginners to flex their skills and have some fun playing real music.
As far as the individual lessons leading up to the play-alongs, there are the "Welcome lessons" where there's nothing for you to master. You just watch for 1 - 2 minutes and move on. The other lessons leading up to the play-along tracks are typically fairly brief, 10 min or less, and usually involve learing a single new chord or a new technique. If you truly need to devote a [u]minimum[/u] of 2 - 2.5 hrs to complete those individual lessons then you need to be evaluated by a professional.
Unless, of course, there's something I still don't understand.