seems like a workable idea...
I hope you don't mind me adding in somewhat...
when you pull up the plate.... set a "click in" mechanism...
so that once its in place, it won't fall.....
then the stick will be 4 way....
by a push of a button... (could be on the side... not necessary on top).... then it releases the "click in" mechanism and gravity takes in effect and the plate falls and it becomes a 8 way again....
so... pull for 4 way.... push to unlock and it becomes 8 way...
well.... but I won't be able to do it cos I think you'll need quite some tools to get this kind of precision.....
and the plate should be a metal (stainless steel) plate....
I don't have any metal working equipment....

good luck...
but if you can get it together.... or have more detail / updated plans.... plz post pics !!!....
