After several interruptions (vacation, other things needed to be done), I have finally made the wheels, wheel mounts, tension system, motor attachment and alignment. After some adjusting of the tension and alignment, it runs great!
But let’s start from the beginning;
Wheels
The wheels are 18-inch size, where one wheel have a 16-inch drive belt wheel attached. To achieve about 35 mm wide wheels, 3 pieces 9 mm plywood wheels were glued together.
However, before gluing together, I roughly determined location and the amount of imbalance (grouping as 1 or 2). I drilled a small hole in center, pushed in a thin rod and marked where the imbalance occurs, as shown in the picture below. This procedure was used for all wheel parts.
Selection of three pieces of 9 mm wheels depending of amount of imbalance. These were glued together with 120 deg between each mark of the 9 mm wheels.
Then the wheels must be made reasonable round. However, for the first wheel I didn’t have any pulley so I made a small temporary plywood wheel attached to rotating axle with bearings of wood. 
Running the finished wheels showed on good performance, but improved further by applying a small balance weight. 
For bearing I used flange bearings. There are several who complain that these bearings can move, so I put a small wheel with tight fittings around the bearings to prevent any movements. Finished, balance wheels are shown below;
In a picture under ‘test run’ it can be seen, that I have glued a 16-inch bike tire on the 18-inch wheels. This functioned very good during running, though some on YouTube says its needed up to 4-inch less size of the bike tires.
The mountings
For the mountings, I adopted the solutions of geekwoodworker here on this platform. However, one with tension screw and one without (in difference to his solutions). The wheel alignments about the z-axis (alignment of wheel to left or right due to tension) was implemented. These mountings were made by gluing small pieces of hardwood (Tzalam) and with the needed screws for alignment & tension. The head of screws were tight fitted and glued with Sayer hard glue (takes long time to dry). The mountings can be moved by tensions or alignment inside a relatively tight pine box.
The alignment
During the test runs with saw blade I discovered that an additional alignment was needed per side. Alignment about y-axis (up and down of the wheel axle). This was solved by fastening the mounting boxes with 2 7.5 mm Spax torque screws on one side and the alignment with a strong 13 mm thick bolt on the other side as shown in the picture below. This picture also shows the mounting without tension.
Motor attachment
The motor needed a wood plate with adjustments for rubber belt tension. Again, copied the geekwoodworker solution. This is seen in the picture below under ‘test run’.
Test run
After adjusting tension and rather similar adjustments on each side, it runs great! However, discovered that the blade is moving in wrong direction! Investigation on how to reverse this 3.1 KW (4.2 Hp) induction motor. I opened the motor and determined the wiring system. It showed to be typical. However, with start and main winding soldered together inside the windings.
This showed to be difficult to reverse. Contacted Mattias Wandel, who is kind of famous (seen on YouTube). He gave me some advices but said that perhaps it’s not possible to revert. Went to a shop for motors, who also said the same. However, suddenly the worker who is helping me with some things at my ranch, came up with idea that the saw blade can be reverted. And we reverted it! Problem solved
!