Well, I'll try to answer your questions:
1. The older KC Katana blades were polished o.k., not quite like a real Nihonto, but o.k. for cutting practice. The newer katanas (high - end) are very, very nice! They should be out near the end of the year. The normal $75 29 blade is a good blade for the money, but don't expect it to look like a $20,000 blade from Japan.
2.The lines on the blade are o.k. also. The lines are not crisp like the original Nihonto, because the finish/polish on the KC blades are done with grinders and buffers, not original wet stones.
3. The habaki does fit real good. The old ones were copper, but the current ones are brass. While the high-end ones will be real silver.
4. The normal $75 blade is differentially heat treated. The edge is around 60 rockwell, and the body is softer around 45 - 50 Rc. The high-end ones will be clay coated like the original Nihonto.
5. The tangs on real Nihonto and KC blades are not hardened. If they were, they would snap when you hit sdomething. They are left soft, so they can flex. Same reason the spine is softer on the blade, while the cutting edge is hard. This is where the curvature comes from. Hardened edge vs. soft back, when quenched in water the edge cools at a differnent rate compared to the spine.
6.The base blades @ $75 is a reaL BARGAIN! I have used and tested these blade on cow spine, tatami rolls and other targets. No damage yet, but if one isn't versed in the use of the Nihonto / Katana, the swords will bend or break (even the $20,000 originals). The high end versions will run aroung $500 - $700 fully mounted with real silk wrap handles. The fully mounted KC basic 29 is $175. Remember, they are using blades. The base one is just that, you can customize them and make them look pretty. The high end one will look like and perform like a real Nihonto, but at a cheaper price (you can use it if you want or display it.
Or if you are a big stickler, then go all the way and order a custom blade from some American smiths or even Japanese ones. Hope this helps. If you have any more questions e-mail me. Hope this helps.