I have been reading up on induction heaters. I have a friend that is a machinist for Boeing and he uses several for tool and die making. From what I have read it would be a great high tech forge, fast heat, consistant and no propane to run out. The down side is the expense. He uses induction heaters to heat treat tools and says they work great. A 3/4" dia. mill bit goes from room temp to orange in less then 15 seconds. Your arm would never get a break if you used one for forging.
PS: I am new to these forums but some of you know me from the other forums. It is always great to chat with as many bladesmiths as possible.