Thank you, brother! Yes, I decided to take the risk and use it as a display. The seller offered to submit each sword for NBTHK shinsa at around $250/sword, but I know they would not get papered.
Honestly, I had looked at a lot of worse swords on Ebay for around the same price, with fewer/blurry pictures, and although I definitely like these swords for display, I'm looking forward to studying the flaws as well. I plan to do a lot more reading once they arrive and slowly learn as much as I can about them. Eventually I will move on to purchasing a recently-papered Hozon, but by then I will know a lot more about smiths, schools, hamon, hada, etc., and know exactly what to look for.
Thank you, everyone, for your input!