I have a KMG and a Delta 1x42 and I use both on a nearly daily basis. The Delta has really held up well - though there are others who have had the top pulley break the first time out of the box. A quick call to Delta, and a replacement was on its way. Just FYI. I still think it's the best.
I threw away the cover, so changes belts is a snap. Of course, I work outside and don't care about dust...may be different in your situation.
I made about a few dozen knives and knife-kits on the Delta before getting the KMG.
Your first short sword will be a pain in the rear, but you'll have so much fun doing it - you'll forget any pain.
Start with something smaller the first time around - maybe 5-6" long blade and a simple, straight handle.
Get your belts (available in many types/grits in your size) from
Discount Abrasives - good product, quick service.
$99 is what I paid for my Delta, as well. It's on sale practically every other weekend, so it ought to be easy to get. If that's too much, look into a 1x30 from
Harbor Freight - which can be had for $30 or $40 and sometimes, with free shipping.
That said, I'd strongly consider the 2x42 that Sears (craftsman) makes. That way, you can use 2" belts for grinding steel (faster) and 1" belts for sanding handles (easier to control). This also goes on sale every other weekend...

for around $100.
Best of luck!