In reply to Deadeye:
Can honestly say I know a fair bit about sandblasting.
Home made sandblasting is generally a terrible idea unless you want to make a big mess and throw good money after bad. Sandblasting with a professional setup is bad enough, but with cheap gear it's a nightmare.
The Red and orange sandblasters and pots you see on ebay/gumtree/amazon are truely S@!t even for hobbyist. They are absolute trash which give the industry a bad name. I cannot stress how much of a waste of time they are. You may use them once but the parts will wear down quickly and the unit becomes useless without replacing them.
Don't bother with Soda. it's messy and it wont touch rust, though it will strip paint. it's a one hit wonder which will fill the room up with dust in seconds, seriously it's a nightmare to contain.
It is all about volume of air not so much pressure. Depending on the pot youll be blasting with, youll want around 15cfm minimum to give you a minute or so's blasting time.
Don't use any form of sand!! Kiln dried, beach or other wise.
If you're going to do it yourself use a medium grade (40-80) Garnet, copper slag, crushed glass or other cheap disposable blasting media. Don't bother with Glass Bead or Aluminium oxide, they are superior but more expensive and not really economically viable for a hobbyist. The finish you get with Garnet et al will leave a good enough finish for you to prime and paint over.
If you are going to do it yourself don't buy the media from Amazon or Ebay, its usually crap quality and more expensive than going to one of the professional manufacturers of shotblasting equipment. The guys usually sell individual bags as one off and don't have minimum orders try - Odlings MCR, Vixen, Guyson or Hodge Clemco if you are going to buy some media they are all reputable and will help you out.
if you're looking to spend £200 on a compressor for this project plus what ever on a pot and the blasting media, respiratory gear and hours of your time I would advise just spending it on getting someone to do it for you, take the bench to a professional shot blaster or get one to come to you.
Make sure they do not use Steel Shot/Chilled iron of any kind as it could warp and rip through thinner metal.
it's a horrible business but if you can get the bench professionally blasted and repainted it will look amazing once finished.
Good luck.