The secret to making the set screw  adjustment work is to use a different thread for the adjustment.  With both threads the same, no matter how many degrees you turn the set screw, the distance never changes between the 2 parts.  By using a different thread pitches, the distance between the 2 parts will now change as the stud is rotated.  The greater the difference in pitch, the greater the distance changes per degree of rotation.  I ended up going with 5/16-18 on the clamp shoe & 5/16-24 on the handle.  It works very well & you can set the handle to lock anywhere you want.  With the coarse thread on the shoe, it releases fully within about 30 deg. of rotation.  Like the tail stock, I also put a spring on the saddle clamp shoe to keep it from binding as the carriage is moved.
 
 

 For the way protector, I used a piece of entry flap from a dog house I had laying around.  I wanted it longer for better protection but it interfered with the chuck.  To get around the problem, I cut off a short piece of aluminum channel and secured it with one of the follower screws to keep the flap clear of the chuck.  I've had no problems using the stock 3-jaw with it.  But with the 4-jaw chuck, it was too long and stopped the carriage before reaching the chuck.  It is just a simple matter of taking the channel off and swinging the protector out of the way for 4-jaw operations.  In the side view it appears to be just about touching the chuck because that side isn't fastened so it tends to lift higher, but it's actually quite a way from it.