Looking at your design a little closer and comparing it to the video Bruce linked, It would appear that you don't have a "follower plate" that rests on the top of the post and slides on the mast and instead the foot is welded solid to the mast? While yours is a more simple build, is there any worry about beating the foot off the bottom of the mast? Do you just set the whole thing on top of the post, put FEL in float and drop the weight while compensating for the arc of the FEL as it lowers?
While yours would have a consistent stroke length which would result in equal force hits, you would be limited in how long of a post you could drive by how high your FEL lifts.