Actually, that shortened routine, as is, would be quite sustainable for an extended period. It isn't a "true" Reeves routine, but rather a very well-constructed "classic" full-body routine along the lines of most of the pre-steroid greats ...very John McCallum-ish. Glawnbe obviously knew what he was doing with regards to program design.
It was the full Reeves routine that I was referring to, but on closer inspection I see that even the first routine you posted wasn't Reeves' "full" 1950 Mr. Universe routine ...I just assumed it was because of the overall volume and the popularity of the "Mr. Universe" routine online. The routine you referenced appears to be the "intermediate" routine Reeves followed after joining Ed Yarick's gym. Regardless, most people would quickly overtrain on that routine if they went at it all-out.