Belstain,
I would say you hit it on the head, go ahead and forge weld your 1" piece, then if you don't appear to have enough for the blade your wanting, cut and restack or forge weld up another piece and stack it on the first. when you square the cable up to stack, just leave it thick so you can weld the 2 together and not end up with a real thin piece after welding. Then just draw and forge to the length and shape you want. 1 thing, when welding cable, weld it keeping it round, by hand I use the ledge between the anvil top and horn, just keep turning and hammering. Cable can be aggravating, its hard to get all the little inclusions out, but it can be done, just don't stop welding heats to soon. Take your time and work it.
hope this helps,
Bill