You have received some good advice. I am confused about your economic reason for not using SAW. If you look at this from a cost standpoint, in welding cost means deposition rates. The higher the deposition rate the low your cost. SAW will give you the best deposition rates and therefore it is the cheapest process.
I would not use GMAW CO2 welding for these joints. This set-up will allow you to weld in the short-arc mode only. For what you are welding, this is not a very economical choice nor is it a good choice for a dynamically loaded structure for reasons that have been pointed out already (LOF concerns etc.). FCAW is a better choice as well as SAW. Lets look at some welding scenarios.
1) No matter what process you use you will need to put in a root pass. For this I would use the GMAW short arc process using 90%Ar -10% Co2 or 95%Ar-5% CO2. Use a 3/32-root opening with a 3/32 land. Lack of fusion in the root is less likely than for the fill and cap passes. Now I am not saying it will not happen just that is less likely. Finish the joint using spray mode with the same gas. Deposition rates for the short arc mode using 160 amps, 19 volts 180 ipm wire feed will yield about 4.6 lb/hr (low) Spray mode with 300 amps 27 volts 325 ipm wire feed will yields about 8.60 lb/hr not bad but you could do better. Total cost for 300 ft using $50/hr labor rate would be $3861.33. (I assumed 300ft and this cost is for welding ONLY. It is not for set-up, machining, handling, base material cost and so forth. It covers welding consumables and welding time.
2) GMAW short arc process using 90%Ar -10% Co2 or 95%Ar-5%co2. Use a 3/32-root opening with a 3/32 land for the root. FCAW for fill and cap passes using 0.052 wire and 75-25 gas. Deposition rates for the short arc mode using 160 amps, 19 volts 180 ipm wire feed will yield about 4.6 lb/hr. FCAW with 310 amps 30 volts 350 ipm wire feed will yield about 10.85 lb/hr. Total cost for 300 ft of weld using $50/hr labor rate would be $4241.77. A savings from number 1 above of $380.55. Not significant but it is a savings.
3) GMAW short arc process using 90%Ar -10% Co2 or 95%Ar-5%co2. Use a 3/32-root opening with a 3/32 land for the root. SAW for fill and cap passes using 0.062 (L-61) wire and Lincoln 860 Flux. Deposition rates for the short arc mode using 160 amps, 19 volts 180 ipm wire feed will yield about 4.6 lb/hr. SAW with 500 amps 33 volts 350 ipm wire feed will yield about 18.05 lb/hr. (now were talking!) Total cost for 300 ft of weld using $50/hr labor rate would be $2322.22. A savings from number 1 above of $1539.11.
As you can see SAW is a better choice from a cost standpoint. Keep in mind this is only for 300ft of weld. If you look at ft per year this would add up in a hurry. Also, this process can be used for more than just this project, so if capital cost is an issue the ROI time frame would be short.
Hope this helps