Long time reader of this forum, first time posting anything, and I need some help.
My wife is in the gemstone/jewelery making business, and she recently decided it would be to her benefit to utilize the rough gemstone source she has. So we looked on craigslist for a lapidary workstation that had mostly everything we would need to get started. This is what we found for a few hundred bucks:

It needs work, but it really has potential. I am an electrician, and any motor/wiring work will all be taken care of no problem. The problem i am having is what type of belts/blades/expandable wheels/posishing wheels to get as a replacement? The belt sanders had only one belt attached and it has no legible markings on it. It is 3in wide by 12in flat, does that mean it is a 12in belt, or a 24in?

The rotary sander works fine, im just not sure what expandable wheels are for. Are they for polishing? What type and grit should I use?

The saw looks like it needs the most work. There was a 12in MK diamond professional blade still installed, but its pretty rusted. I want to replace the shaft/axle setup as its berrings are shot, and the pully end of the shaft is pretty stripped from excessive use. Where can i get one? Also what type of blade should a beginner use? I was planning on just diving into the $150-200 range because I might as well get the most longevity and learn on the best blades, right? Please correct me if im wrong.
I would like a blade guard, but I cannot source one out. It looks like I will have to fabricate something. And I might as well install an auto-feed and a plexiglass shroud/shield while im at it.

The entire system had 1/4" copper line running across the tops of the different equipment, connecting them together with "T" fittings and valves for each unit. It looked like a good setup, and i can use the existing reserviours, just need new copper line and fittings. I plan on using a basin underneath the setup to collect the fluid and house the pump. I was just going to use some cheese cloth as a filter, should I do more? Also, how are big saws like this one equiped with a drip system? I was planning on incorporating it into the shroud/shield i fabricate.
Any input on our project would be greatly appreciated. I value this forum's opinions and look forward to hearing from anyone interested.
Thanks!