I reckon a better way would be Melrose drive->Matthews Ave->Keilor Road->Mt Alexander Road->Flemington Road->city.
Your bikely route would be a bit of a dog leg. You'll be coming in against the peak hour traffic so it should be a good run.
I can make up a bikely route if you want.
I wasn't sure if matthews ave was a road, or part of the freeway...
Also, to many streets, and to many turns in an area I have not been before, is for me not always the best option..
But that one doesn't look so bad, so if it's not to much trouble , I would appreciate a bikely linky..
And in general, traffic doesn't bother me, getting lost does..