I'm not sure what else you've built in your life, but it's nice to see someone making some plans before wielding the angle grinder/torch/sawsall etc.
When I saw the title of this thread I though "on no, this is gonna get ugly" but it looks like you have an interesting approach. I'm curious to see how you deal with the inevitable snags along the way.
BTW, 50-60 hp in a Blaster will be lots, but not crazy. Don't forget that the motor weighs likely double what the Blaster mill does. All said, you'll likely be in that 375-385lb range and make lets say 55 hp. About the same numbers as a modded 700R. Should still be fun though. I like that you're using something air cooled. Definitely simplifies the build. B)