That's a decent option. However, you have to physically move to adjust the guide, every time you do anything concerning a knot or other lump on the side of the log. I always kept the roller within an inch of the log-cant, while sawing. Once the log is reduced to a cant, adjustments are not usually necessary.
The square tube as a bracket for the shaft to slide through, will have tension on it, from the down pressure of the guide. 1/8" inch (approx 3mm) downforce, will help the blade immensely to saw flat lumber.
You MUST maintain a flat plane of travel of that guide roller, no matter how far out it extends. You MUST maintain the amount of blade deflection, (1/8" ) or whatever works best on your mill, so lumber comes of as close to the same measurements in every direction.
Tapered, off thickness, or other "defects", means more time for the woodworker to plane the board. Making boards as near perfect as possible, will generate more sales, if that is ever your goal.
Adding a small wheel of some sort, will help that shaft slide MUCH easier. An automotive windshield wiper, will drive that shaft and make the guide fully adjustable.
Many is the time I had to move the guide roller in or out, while sawing. Stopping all the time, or, spending much time cutting off most protrusions on the logs, before loading them, will eat into the frustration of little amounts of lumber per hour of sawing.
Anything beats what you started with. Just trying to automate you a little. Sawing is a pleasant thing, as long as frustration does not set in. Now that you are making mods to the mill, you should keep asking questions. Our help will get you thinking of how to make the mill more efficient. Remember, you are not making money, if the blade is not IN the log. Money aside, I use that line, to get you to realize the better you make the mill work, the EASIER (faster) you make product.
I was impressed with your first photos, now, impress us some more.
Do you ever think of sawing thin boards, like 1/4" (6-7mm) ?? We did quite a bit of that, and, made up a re-saw device to accomplish this. Sometimes, making boards that the public can not buy, can make you some decent side money.
Sawing ovals is another way to increase sales a little, if you could stand a little extra money from time to time. We always could.
I DO get carried away with the words, huh ??
I just like sharing what I have learned.