That fan motor looks good. I believe it will be fine, if you make all the brush leads insulated from the housing, so you can reverse the +/- wires with the drum switch. It will handle enough amps to do the job. You WILL be gearing the drive system. ACTUALLY it looks to be insulated, already.
Stick it together and try touching the wires to battery +/- and them switch them, to see if it does turn both ways. ALSO. before putting it together, take a straight edge and lay it along one side of a brush holder, so it extends to the opposite brush holder. Looking at the photo, it looks like the holders are not exactly parallel, which means the brushes might be advanced on the commutator. That will increase the motor speed a little, and make it a little less powerful. If all 4 holders are parallel, meaning NOT slightly out of alignment, you are good to go. You may not even NEED to use bearings. IF the bushings are good, just smear a dab of good grease on the shafts and put it to use.
Those mounting screws are not sufficient to handle the torque the motor will create when starting to turn. Make the mount rigid, or make a cradle or something, so you can strap the motor down.
Also, starter motors are CAPABLE of pulling high amps. ANY motor will only pull the amps it needs to get the job done. Starters are made to turn the bendix drive, which is only connected to the shaft when it is activated. Turning in reverse may not turn the gearing, unless you can spot weld them or use a couple set (grub) screws. I never took one of those starters apart. They would certainly last you many years if you could make one turn both ways using the gearbox.
You can also run that motor with 6-8 volts and that will slow it down some.
Not sure about the newer ones, but, the older WoodMizer sawmills have motors for up-down and feed speed that are as small or smaller in size than your fan motor.
For example, look on ebay.com for a 12V brushed motor speed controller. They are small and will connect directly to the drum switch. As you turn the knob the motor starts to turn, and, as you turn it more, the motor turns faster.
Any motor is capable of having bearings installed. You can look for needle bearing sets that might fit the shaft and housing. The motor will not be turning fast, at a steady speed, so, they will be fine. Outboard motors on boats use needle bearings, or did for many years.
We never did discuss if you are going to walk with the sawhead, or, stand at the end of the mill and have the controls in a box on a stand. WE built ours to stay at one end. The controller and drum switch are all in the box and it is weather tight.