Timburr's idea sounds like a good idea. You can buy a ready made 60" capacity slabber from either Lucas or Peterson and go to it. Peterson brags about the slabber head which you can have sitting at one end waiting, while you work the swinger.
Even though the old submerged logs may stay stable as they are being cut, it seems that they would still tend to follow the normal rules for shrinkage (i.e. tangential versus radial) with cupping and such, just less of it. The best slabs would be heart and next-to-heart. You have seen this vary with species too, I'm sure. For example, with Red Oak, you can count on bad cups on slabs, except the heart cut.
Phil L.