Additionally a lot of the equipment that you might want to get at (like the hatch to the garbage tank) would be several meters above one's head.
The whole orientation is set out wrong, it's set out with floors aligned perpendicular to the length of the cylinder, and this is ideal in a microgravity environment... notsomuch for a centrifuge.
Considering stations based on the S-IVB in general; the S-IVB had an external diameter of 6.6 meters, we can trim this down to maybe 6.4 for an internal habitable diameter. SpinCalc says that with 1 G, you have an angular velocity of 16.71 rotations per minute, and a tangential velocity of 5.6 m/s- far above the limits agreed upon by various studies.
There are two problems here; one is that a high angular velocity will give people motion sickness, another is that due to the pitiful radius there is a "gravity gradient" between the feet and the head... such a gradient can't be too good...
A study noted that susceptible people subjected to 1 RPM showed none (or almost no) symptoms, at 3 RPM people experienced symptoms but were not impaired, at 5.4 only people with low susceptibility performed well and were symptom free by day 2, but at 10 RPM not even airsickness-free pilots could adapt.
The thing is... if we cut angular velocity down to 3 RPM, something with that diameter can only generate around 1 G (at the feet, mind you). At 5.4 RPM it's increased to 0.1 G, still lower than lunar gravity.
Furthermore I wonder if the spacecraft structure could take the strain, it probably culd at 3-10% G but 1 G makes me doubtful.
And there's also the issue of why... space stations are intended as microgravity research platforms, which means that not only do you not need artificial gravity, but you don't want artificial gravity! This makes the early LEO torus concepts (Von Braun and others) completely useless. It is only for long term habitation in space, and long duration transits- especially those that at the end of which the crews will be required to do strenuous physical activity, that a centrifuge is really warranted. In which case anything based on an S-IVB would be impractical anyway.
Linking two S-IVBs on a tether and spinning them end over end however... that might work, and the floor plan could be arranged quite practically however. But it is still a mystery as to any motivation for such a contraption. :hmm:
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