Forge the wakazashi to a about 35% wider and thicker than you want. DO NOT forge the sori in the blade, it forms on the quench. Grind it to the blade profile you desire,(Iori, Mitsu, etc.) and still leave 20% extra. Now, turn off the power tools and get a good BIG Bastard File. Draw file the bevels in. Switch to a HARD block and wet-or-dry paper. Start with 100 and work up to 400. The blade should be at about 110% of the desired thickness now. The edge should be about .040-.050 wide. After the clay is applied, do the HT however you are planning (a trench forge and charcoal work fine) quenching in 130F water. Quench edge down , IN 1-2-3 OUT 1-2-3, IN till cool. There will be all sorts of scary noises, one hopefully will not be PING!!!
You can quench in a trough of fast oil if you are leery of a water quench, but the hamon may not be as strong,sori will be iffy, and the flare-up may startle you (just ignore it).
After a water quench the sori should be a nice curve. Temper at 400-450 twice (depending on your target hardness).
Make a sanding board to lock in your vise, or make some sort of stand with a 2X4 about 2 feet long. The blade is clamped to this with the edge at the edge to sand and polish. Go slow and watch the edge and point.
OK, now get out that block and papers and start the final sanding by hand. (Only use a grinder to remove the scale.) Go right through to as high a finish as you want, 2000 is good, but 800 will do.When the blade is getting near done, stop and do the tsuka, tsuba, and habaki fitting. When they are done go back and finish the blade polishing. When at the final grit, etch the balde, and repeat the last grit, (All sanding is being done wet at this point,BTW). Polish with choji (light oil) and rouge or just use Flitz metal polish (I like Flitz) on a leather strop made by covering a 2X10" piece of hardwood with good strop leather. The edge forms as you sand and polish ,so be careful, you can get a very severe cut by trying to go too fast. Once the final polishing is done, the blade should be completely sharp. Tape the edge for safety while working on the tsuka-make.
Send me an email if you need any more help or materials. I have a lot of silk cord and other supplies. I'm only 45 minutes away.
Stacy