Don't mean to dampen the thread but why do this with Everton? They have a solid base of players not too far away from being genuine title contenders on FM. In my opinion, you've gone two steps back to take one forward. Nice team for the future though!
It's an unconventional formation. Probably requires a lot of time for the team to gel. As for 3 CBs, I've had success with 3-5-2 / 3-4-3 but never used 5 defenders.