I used 1/2" thick blades that I bought at a freight damaged sale place. They were 30" blades, about 3.5" wide, single 3/4" hole in the center. The mower was actually a 7'6" cut with these blades. The sheaves I used were all about six inches. I don't remember what size I finally used on the gearbox, because I had to change it from my original plans when I went from a 3600 rpm motor to a 540/1000 rpm tractor. The new owner probably just ran it in 1000 rpm and it was fast enough to make a good cut. I went over my design intention pretty well with him before we decided to make the switch to a pto power with him being the new owner. Being my first mower, I tried to leave myself plenty of room for change whenever possible.
You might want to take a look at your gearbox and see just how much gear reduction it has. Typically a bush hog has some sort of reduction in the gearbox, and a finish mower has a speed increase at that point. Mine was a one to one gearbox with the speed controled by the size of sheaves.
I used all "taper loc" (actually QD type of taper loc) on mine, because that is what was available in our used parts arena to hold the Browning sheaves to the shafts. They are also available with a keyway which is what I used.
The belts were my "shock absorbers" in case a blade hit something. I only ran single "B" belts for fear of getting too much power transmitted thru the blades. The size of your sheaves will have to be figured out for your application, as you want a pretty fast blade tip speed, without the blade tips approaching the speed of sound. I am sure you can find a normal blade tip speed on a manufacturer's website. Just start with your pto speed and work backwards till you get to the speed of the blades, and adjust the ratio of your sheaves to allow for your intented speed.
David from jax