Versatility is a key word telling about finger joint as many enthusiastic woodworkers like designing their particular joinery. A single rough saw blade enables for any finger height but is not as accurate as the stack of cutters mostly because of the finger making one after another.

A single rough saw blade locked on the spindle and properly housed in conjunction with the tenoning guard and the mitre gauge clamped on the sliding table are a good place to start but a pocket calculator is also of some help if you don't like mental arithmetic.

The document linked here gives a method to machine rabbets step by step and minimize height adjustments. Of course the lifting mechanism of the spindle moulder need to provide micro-adjustment and the first height position is set up with the help of rings and shims which is no more than another way of adjusting without measurement.

Machining the rabbets is as easy as going through the blade then coming back and readjusting, over and over.