This is a simple idea that I will use until I can get a drum sander, though right now the next tool will be a planer, followed by a router table. I can usually afford about 1 major tool a year, so I need to be pretty selective.
John, you've basically described how I do my segmented glue ups now, and so far it works great for my budget, though this should help speed up the flattening of one side of the ring, doing it by hand wasn't bad, but I think I'll be able to get nice tight glue lines faster this way. Hopefully now I can find some time to do some segmented work!
I want to die quietly in my sleep like my grandfather, not screaming in terror like the passengers of his car.