An update to what I tried and how well it worked.
Using a hand-held router was tried first. I temporarily attached the stock to the edge of a 2 x 6 so the router would have a large surface on which to ride. This produced pretty good results, but attaching and de-attaching over 50 pieces of stock seemed like a lot of work. And cutting the full profile in one pass would have been a bit much to try. I could have set up an edge guide to make multiple passes, but again more work.
Next I tried the Shopsmith. When I set it up in the drill press position, too many things slipped or didn't work well. Gravity was not working in my favor.
Finally tried with the Shopsmith in the horizontal position with the table tilted 90 degrees. Made an auxiliary fence and attached to the fence so that the router bit could be buried in the fence. My "L" shaped guides made of 2 x 4's to keep the stock pressed down to the fence and against the table did not work well. Limited my view of where the stock was, and hard to adjust. Any slight variation in the width of the stock and it took too much effort to push the stock through, even with waxing the inside surfaces of the guides and the fence.
My feather boards bolted loosely together worked best for holding the stock down to the fence. Once adjusted, a large C-clamp kept them in position and provided the desired amount of pressure on the stock. The bolt head on the table side rode in the miter slot. A lock nut kept the nut from vibrating loose, and it was loose enough to allow the feather boards to be adjusted.
Adding height to the wood auxiliary fence gave more support for the stock, and a place to clamp thinner feather boards to keep the stock pressed tight to the table. Another feather board on the outboard side of the cutter would be better I think.
Stock that I used was old 1 x 6 cedar T & G siding that I salvaged when I re-sided part of the house last year. Cut pieces down to 1 x 4's. Found I could cut two profiles on each 1 x 4 (on opposite sides) and be able to rip them apart at roughly a 30 degree angle to give me the sloped top edge I wanted to glue to the underside of the post caps.
I took three passes to get the completed profile, lowering table slightly between passes. Depending on the grain, there was a varying amount of chatter. If one side cut clean and smoothly, then the other side usually chattered more as I was then going in the opposite direction of the grain.
Here is short video of making third and final pass. https://www.dropbox.com/s/m0gyfoaxwk0ioqn/Moulding.mp4?dl=0









