Dave... to each his own but I would not take that approach if (since) there is a safer alternative. That casing bit is one big ultra-fast flesh-eater, should it come in contact with your skin. One slip and it's a serious aw-sh*t!
By buying (or gluing up) wider pieces, milling them and then ripping the trim off on your TS, an otherwise dangerous process becomes safe. If you have a lot of trim to make and are concerned about the waste then, after you cut the first part down as small as is safe, take the ripped edge and glue it to another board and continue. Then, when you are done you have at most one small piece of scrap.
Although wood can be mighty expensive, I believe safety must come first.. I bought some Hawaiian Koa for $16/bd ft but even if it was $50/bd ft, my recommendation would be the same.
The ultimate question is "What would it take for you to bet your fingers?" Consider it like being at Vegas.. is the probability and cost of failure low enough for you? In the last year we've had several instances of members being cut. I'd hate for you to join the rank.
Check out that new high-tech cordless router.. wireless and no recharging required!!