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Hundred up with openers from Birmingham and Durham in reasonable form (3,3)

Ross

I believe the answer is:

not bad

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'hundred up with openers from birmingham and durham in reasonable form' is the definition.
I can't tell whether this definition defines the answer.

'hundred up with openers from birmingham and durham' is the wordplay.
'hundred' becomes 'ton' (I've seen this before).
'up' says the letters should be written backwards (in down clue: letters go upwards).
'with' means one lot of letters go next to another.
'openers from' suggests taking the first letters (letters which open the words are used).
The first letters of 'birmingham and durham' is 'bad'.
'ton' backwards is 'not'.
'not'+'bad'='NOT BAD'

Can you help me to learn more?

(Other definitions for not bad that I've seen before include "Middling (so good?)" , "Passable" , "Fairly good, all things considered" , "fair" , "Reasonable" .)

I've seen this clue in The Independent.
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