That's the standard wiring for a 5-way... however, if you are comfortable with modifying wiring you can make any combination that you want... Here's the hot-rodded design I put into my strat with the use of a Switchcraft 5-way Super Switch:

Pos 1: Bridge+Middle (switch in down position)
Pos 2: Bridge+Neck
Pos 3: Bridge+Middle+Neck
Pos 4: Middle+Neck
Pos 5: Neck

I have hum cancelling in 4 positions and I also have a push/pull pot to activate/deactivate the middle pickup so I can go in and out of phase in positions 1 and 4. Essentially gives me 7 tones instead of 5...