Front Squats, Back Squats, or Overhead Squats
Dumbbell Bench Press or Barbell Bench Press
Barbell Rows or Dumbbell Rows
Barbell Curls, Dumbbell Curls, or Close Grip Underhand Chins
Grip or Ab Exercise
Barbell or Dumbbell Overhead Presses
Deadlifts, Stiff Leg Deadlifts, Rack Pulls, or Power Cleans
Wide Grip Chins
Grip or Ab Exercise
How many days a week? You do workout 1 and then wait two or three days before doing workout 2. After workout 2, you wait another two or three days and do workout 1. Repeat. So, in a given week you might workout on Monday, Thursday, and Sunday. Or Monday, Wednesday, Saturday. Or Monday, Thursday, Saturday. Basically, you do your next workout when you feel fully recovered. Sometimes you'll feel recovered in 48 hours, sometimes in 72 hours, and sometimes maybe not for 96 hours. It depends on myriad factors like the intensity of your last workout, sleep, diet, stress, your schedule, etc.
Sets and reps? Similar to the other program ? 4x6 or 5x5 (but only 3 work sets).
What are the advantages and disadvantages of this routine compared to the original one you posted? A downside to the original program that I posted is that if you miss a workout, you might not work the exercises or muscles in that workout for 2 weeks. As a result, it's imperative not to miss workouts. With this type of routine, if you can't make a workout on a given day, you just wait one or even two days and then do it. For people with hectic schedules or that can't always keep a workout schedule it's a good option.
Some people gain better from a more total body oriented workout as well. In a specialized routine, you completely annihilate each major muscle every 7 days. Some grow well from this approach; others don't. Others gain better from working each muscle with slightly less intensity more frequently.
Finally, to keep making gains it's good to mix up your routine a little from cycle to cycle, and this gives you another option.