Would it be better to invest or pay down mortgage?

[Mano]

OK, I got the answer I think I already knew, that I should invest the money, I just wanted some validation.

I have been reading through past threads and other investment websites. I would like to keep it simple to start with. Would an allocation of

60% VTI
30% EFA
10% VWO
(an alocation suggested by spider in another thread)

be sufficiently diversified, or would I be better off with more funds, like:

10% SPY
10% VTV
10% IWC
10% VBR
10% VNQ
10% EFA
10% EFV
20% DLS
10% VWO

(ETF Equity Buy and hold portfolio suggested by fundadvice.com )?

I plan on buying about 100k in fairly short order, and then adding 2k/month indefinitely. I hope to do any balancing by alocating monthly additions to try and maintain percentages. Any thoughts?