Most hardwood lumber is sawed on the 'quarter' system...4/4, 5/4, 6/4, etc. Each scale has an 1/8" built into it because old circle mills were notoriously inaccurate, and the end user, such as flooring mills for example, wanted to end up with a solid 3/4" thickness for their flooring after planing.
That means if you saw 4/4 lumber, you "should" end up with a green board 1 1/8" thick. You'll lose maybe a 1/32-1/16 of thickness in drying, leaving plenty to plane to give a 3/4" finish.
Unless you know in advance you have a project requiring 5/4 or thicker lumber, cutting the extra thickness to later pile it up in planer chips is a waste of wood, in my opinion.
I saw on a bandmill, for myself mostly, and I grade as I saw the log. The better grade stuff, I saw on the quarter system. The heart wood, and lower grade logs, I saw on the inch scale, which after saw kerf and drying, leaves me about a 7/8" board. Since I'm going to use the lower grade stuff for sheathing or pallets, or boxes and not plane it, that works fine