If you align your zero off the inner edge of a fat wheel then you do not have a problem when you roll a razor wheel car down your board.
My table is about a half inch higher at the start. If you get it too steep you might find the car will skid. As long as you keep it at the same angle every time you set it up ( or, better, just never take it down) you should be ok.
12" is short for a center guide but since that's all you have room for on a 5' table it'll have to work. 17-18" would be better. The wheels probably won't have enough roll out to come fully set before it's off the end of the guide. It'll be close enough.
I measure drift from the inner edge of the DFW, so wherever the inner edge lines up at the 4' mark is where I call it.
How much drift to use really just depends on the car itself. Some cars are fine at 1 1/2", some need 8". Typically, a bearing razor car needs the least, a short wheelbase fat wheel car needs the most but it's a tuning variable. If in doubt, I would recommend that you go heavier since "oversteering" only costs you a few thousandths, too little drift will cost you tens of thousandths.
My razor wheel cars without bearings like more drift than my razor wheel cars with bearings. My Eliminator runs around 4.5-5", I tried it at 3.5" for Nationals in Omaha last month just to see how close to the edge it was, watch the video if you want to see what a drift fail looks like. It ended up on the wrong side of the edge. LOL