[sanddrag]

You're lucky, that's a very nice saw. There's an old rule of thumb that says you want 3 or more teeth in whatever material you're cutting. For 1/8" plate, that would be 24 teeth per inch. In reality, you can often get away with about 2 teeth in the material. For that saw, I'm pretty sure it uses a blade between 94 and 96 inches long, however you'll want to verify this.

Definitely spend the extra money for a "bi-metal" blade rather than just a carbon steel blade.

If 1/8" plate is your primary material being cut, you might want to look at something like a 1/2" x 0.025 14-18 TPI variable pitch anti-vibration bi-metal blade. This should give all around good versatility. If you're making only straight cuts, go for a blade that is wider (like 3/4" wide).

I think the bi-metal blades McMaster sells are Starret brand, which are very nice. However, I'm sure there's cheaper places to get bimetal blades.