Actually, there are several ways to look at the life cycle of the alien:
- Fans have assembled a more or less cohesive but complicated unifying theory based on all the various sources like the movies, books, comics etc. This is pretty much what you've posted, but AFAIK it also includes various subspecies and of course the Predator race and even the predator-alien hybrid. One might consider this to be canon, however there are several inconsistencies which require some really creative thinking to overcome. I think it's also overly convoluted and robs the concept of most of its weirdness.
- There's Cameron's work in Aliens, which has the queen laying eggs and the drones maturing to warriors. Since this is the first time it's been explained on screen, one might also consider this to be the canon explanation.
- There's the creature (the "runner" or dog) from Alien 3 which hatched from an animal and looked different to any previous incarnations, which is probably why this DNA mixing theory was introduced. Still, Fincher's version also had a queen, although in just embryo form, so it's still close enough. Of course at this point we can't ignore that the addition was based purely on the intent to add something new to the creature.
- Prometheus has of course messed up everything with the black goo and the trilobite and the deacon whatever thing. I'd prefer to ignore this completely, mostly because of Lindelof's... mystery stuff, although Spaith's original script wasn't really consistent with the previous movies either.
- And finally, there's the originally intended version, which was depicted in the deleted scenes of Alien: there are no queens or any castes at all, any single creature can use prey (probably even just corpses) to mutate them into new eggs. Its life cycle is also very very short; the original explanation for the alien to hide on the Narcissus shuttle was to die alone, after it has created a new egg. In the movie it was Brett being turned into a new egg and the still living Dallas was coccooned right beside it as a host for the facehugger parasite. I think this version makes the alien the most dangerous as it can reproduce very fast,as there's no need to waste time conceiving and raising a queen.
We did a lot of research on this stuff back when we were working on the (unreleased, incomplete) trailer for Colonial Marines, sometime in 2008-2009 or so. The original ideas got quite diluted through the various iterations and a lot of the themes from the first movie got lost along the way. Personally, I see it as two universes; Cameron's version is different enough for that but the execution on the queen-hive concept is good enough to warrant it, whereas the original is in my opinion the more unsettling idea.