I'm sorry for chiming in so late...I believe you've already had this question answered by Howard Clark on SFI, and I would like to second his recommendation.
Japanese swords were quite stout and stiff compared to many swords of other cultures. I think that perhaps what you could use some practice with is utilization of distal taper and profile taper to improve balance. Weight itself is rarely a very detrimental factor unless in excess, but the position of that weight can make a sword fast and powerful, fast and weak, or downright sluggish. Weight is one reason why the question of Ti swords keeps coming up. Truth is, the katana is not just a shallow slashing weapon, and some degree of substance is beneficial to the sword's effectiveness (but it should still feel fast and lively in the hands!) If you need to make grooves (bo-bi), traditionally they were carved/chiseled in. That's a *lot* of work compared to forging a good distal/profile taper. I don't know if you are doing this but also make sure the shinogi/ridgeline is the thickest part of the cross section, the shinogi-ji or "flats" should not be parallel. Also do not judge a sword's handling abilities until you know how it feels mounted.
I will also agree with avoiding water quenches with O1. The downside is that if you use O1 with an oil quench, there is a good chance you will not get any curve to the blade.
Find a high quality Japanese-style sword, or even a decent quality one and handle it. If it feels *way* too heavy for you, perhaps you should consider a different form of swordsmanship to practice.
However, if you want to make a thinner, narrower one you can try. It will cut different than one of more appropriate dimensions, and if you want the handle to fit your hands well, you will probably find that it will look grossly disproportionate.
Of course, the best way for me to make a recommendation is for you to pack up a sword of yours and send it to me to examine and maybe cut with

hehehe...