That's a Modern Greek pronunciation. I like it. My favorite Modern Greek reader is Dr. Spiros Zodhiates. I heartily recommend purchasing his audio CD.
However, I support and use a recovered pronunciation:
1) There are too many vowel collisions Modern Greek. It becomes impossible to spell and too many different words sound the same.
2) Poetry does not scan in a Modern Greek pronunciation, as modern Greek has lost both tonal quality and vowel length.
However, I believe that John Stuart Blackie was a great proponent of using the modern pronunciation. As was Heinrich Schiemann. Both believed that it makes learning Greek far easier.
Regardless, as technology makes audio/visual language learning easier, I think that recovered pronunciations of Greek will really take off. Check back and see where we're at in a couple of years!