Hi Tusses
First I would like to congratulate you for your "new" saw and the wonderful renovating job.
I'm sure that the iron table top is better then my Aluminum top...
The difference between Splitter and Riving knife is very simple; A riving knife is set to 3~8mm (1/8"~5/16"...in case that you are "Imperial"
) and it moves up/down and tilts together with the blade while keeping the 3mm behind the blade at any blade height.
You can say that the blade and the riving knife are like "one unit" that moves up/down and tilt.
In your case, it looks to me like a splitter and only when the blade is at "full up" position you get a "Riving knife".
About the "Low fence", as I said in the other post, I tried it ones and never got back to "High fence"...just imagine that you are ripping without having any rip fence...everything is open and it's very easy to put a push stick or a push block/shoe....
Unfortunately, we must have some guide that keeps the workpiece at the required distance and always parallel to the blade so...we must use a rip fence...
But, make an experiment...set the fence to 1" from the blade and rip some board...first time with the "High fence" and second time, with "Low fence" and decide for yourself with which fence is easier to control.
Even if I cut a 2" thick material, I use the "Low fence"....
That's what the SHE has to say about.....
In my opinion, the high fence is used only when cutting narrow and high boards (kind of re-sawing), if the board is wide the low fence will do the same.
Another advantage of the "Low fence" is when you tilt the blade for bevel cut...if the cut piece is narrow, the tilted blade can touch the "High fence" but will not, with "Low fence"...as you can see on the drawing above and the picture below...
Regards
niki