Some guiderail systems use heavy 6" I-beam posts. Others use 3" weak posts. I wouldn't be comfortable with heavy posts every 12'6". The beam will deflect more and a vehicel that hits the barrier is more likely to crash into the post. This often leads to injuries. Even though this is a private road, I'd consider staying with an approved guiderail system for liability reasons. Weak-post W-beam is less expensive and passed crash testing at 40 mph, but it may not be widely available in your area if KYTC doen't use it.
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"...students of traffic are beginning to realize the false economy of mechanically controlled traffic, and hand work by trained officers will again prevail."
Wm. Phelps Eno, ca. 1928