I also use one of those blowers....here's what I've found over the years...
"Squirrel cage" blowers are designed to work with NO back pressure. When these type of blowers are choked down, either via gate valves or even due to the back pressure present in most forge applications, the air input is dramatically reduced, the motor heats up, and the life of the blower is dramatically shortened...when I was using them, I would burn one out about every 2-3 months.
I use a "dimmer" switch to control the speed of my blower, (the 164 cfm model from The Blacksmith's Depot) but it's not the average dimmer switch you would use on lights...long duration using that type of dimmer switch on these blowers will result in burning out the motor. The "dimmer" I use is a ceiling fan speed controllers....it performs essentially the same function, however, the ceiling fan speed controller is built differently, and does not cause the motor to overheat. It's more costly...around $20, but compared to the cost of the blower it's cheap insurance.
The only other method to control the air flow that I would recommend is choking down the blower intake...it may seem that there would be no difference between doing this and using a gate valve down stream, but there is a huge one. Choking down the intake does not induce back pressure in the same manner that a gate valve does...and the blower motor does not heat up.