Love the build! This is what I want my BIAB system to be. I have the same 44 quart pot/basket combo you do. Can you elaborate on the issue with basket? Does the basket restrict flow too much? If I actually grow a pair and attempt a real brewing DIY project like this, I will have plenty more...
I started a 3 gallon batch with Minute Maid about 4 days ago and I see the white stuff your talking about. I have a strong feeling it is pulp as you suspected. I saw the bits floating before any nasties had a chance to make themselves comfortable.