Bill that really looks sharp. I like the simplicity and the incorporation of laser possibility. A nice chance to upgrade if you wanted too.
Kevin, I imagine the height is just for versatility to work with anyone's lathe or something along those lines. If it is a production piece, you'd want it to accomodate as many people as possible unles you were going to custom make them or have several lines. (answered while I typed)
Thinking about versatility, do you have plans for the base to have the ability to mate to different lathes' ways?
I agree with Kevin that a way to make the base attach without removing the tailstock would be a nice convenience factor also. (also answered while I typed)