I'll bet it does work but, I have NO experience with it.
Looks like too much trouble and you need a lot of space for wood storage while it dries. And maybe a kiln to speed up the process. There are plans for inexpensive solar kilns and various other things like hoists to lift the logs with but, it is not as easy and cheap as you might think and takes a lot of time.
If you want to get into milling your own wood to save money as a hobbyist, I think you are barking up the wrong tree. (pun intended)
If you want to get into it to make money from selling wood, there a lot bigger and better machines to be had.
Rog