703 cuts great on a table saw. Set the blade to 45 degrees and you are all set. It would take 60 seconds to cut both edges of a 4 inch piece.
Are you cutting by hand with an electric knife? Then the one inch would be easier to handle but now you have 8 cuts instead of 2 and if you draw a line one inch from the edge down the 48 inch length then you would have a reference point between the corner and the line to get close to 45 degrees. Steady hands required! And each progressive piece requires a deeper cut - 1", then 2", then 3", then 4". Everyone of those cuts is scrap material. You could throw it in the back as filler though.
In the end the one piece leaves a gap at the back and does not have the full absorption of the triangles method. And you waste more material trying to bevel edges.
You can get 8 triangles out of one 24 x 48 piece of any thickness and stack those. No bevels required, just straight cuts on an easier 45 degree angle.

