I also have a 25# LG power hammer and love it to death. I do not have a press yet. One day maybe.

I do everything I can with the power hammer, that includes drawing, flatting, forging knifes to shape, forging guards, forging mokume, tangs, and squaring. Of course, everthing is done by eye because of the dies that I have. I dont have special squaring dies for example. About the only thing I use my hammer and anvil for anymore is setting the initial welds and straightening the final billets.
Most of the patterns I do right now benfit from heavy steel removal in the grinding stage so I dont fully forge the blade to shape, just get her to resemble the look of a knife. The power hammer is fast at some things. I dont know how well it can do on Mosaic Damascus, but for drawing out billets I think it would leave a press in the dust.
My LG will draw a 1.125 x 1 x 12 billet to over 27 inches long in three heats. The speed at which the hammer actually hits the billet creates heat which allows you to work the billet longer.
I have also used my hammer to draw a billet down to 3/8 square just using the drawing dies and have drawn 3/16 diameter rod down to a fine taper also.
It is all in the hammer setup. You can either break rocks with it or just crack an egg shell. Just remember, anything that goes wrong will be considered operator error.
Edited to add: Hey Bill, if you don't need that LG you can send it up to me in MI. I will be happy to give it a loving home.

Heck, I'll even drive down and pick her up.
