I think you should try it, it will give you better insider about this hair style and if it really fits you. However if it doesn't look the way you expected than hair will grow back in no time, at least it doesn't take much time to get the length you have in your photo.
It can only go uphill from now man... your hairstyle is NOT nice right now.
Your hair now doesn't look like it's too much longer than the style you'd like. I'm sure it'll look just fine if you cut it short. If you end up not liking it, it'll grow back soon enough, so you don't have much to lose. I'd say go for it.