Thanks CJ. We actually use iaito (non-edged-but-still-pointy alloy blades) from Day 1 but don't get to handle a shinken (forged and polished in the traditional style) until after about a year. But then only for cutting--you're not allowed to use a shinken for kata until you receive your shodan certificate (4-6 years).
We only rarely use bokken (or shinai) for kumitachi-type stuff. We tend to focus mostly on kata and kenbu.
It's still a dangerous hobby--my poor 911 has to compete with my sword collection now.