That's a pretty nice idea, Brian. Those big logs can be really nasty to bully around.
I recently use a Carpenter's Wall Jack, the type that crawls up a 2x4, to stand up a large log. It worked quite well but required a second man to keep it balanced while jacking it up.
This looks like the one I borrowed
http://www.amazon.com/Qual-Craft-260.../dp/B0000224MY
Butch