Mike, I've seen steel rod re-enforcement on the underside of beams on old commercial buildings in a similar fashion to the N.E.W. frame. I think the gable wall bracing could be improved because walls can be sucked out or in under high wind conditions. If the king post to ridge braces were lengthened to past the point of bypassing then I think a more secure wall could be obtained.

A drawback to the rod re-enforcement is that under heavy load the narrow bar can overload the psi capacity of the wood grain.