While this may not be a new design, it's merely a combination of already known designs put together.
Design criteria: Easy to build, few parts and relativly cheap. Cheap is a keyword here, as this design also eliminates a costly valve.
I put a triclamp connection on the bottom, this of course would be optional for the builder and could reduce costs further if omitted.
First on,let me excuse for the bad drawing, my Autocad seems to have let me down here...so bare over with me.

Anyway, i am sure you all get the point when you look at it.
Materials: 2" stainless steel pipe , but of course copper would do as well...also it can be scaled up or down as you like.
This design with an angled condenserhousing will eliminate the need for a "roof" over the reducer. If one would choose to run it straight up and down, you would have to add this "roof" or solder a angled slant plate to the condensercoil. Otherwise your reflux would run straight down the column, passing the LM section.
So..ladies and gentlemen...join in for some constructive thoughts about this.