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Bead blasting should clean the parts up nicely. The most important thing to know is if you have enough clean, dry compressed air. Those rascals will go through a ton of compressed air in a hurry. Even if the parts are small and you are patient, you're going to spend a lot of time waiting for the compressor to catch up if you're using a 5 gallon, 3.5 cfm model. I have the 60 gallon, 13 cfm and it does the job nicely.
Also, the guns in those cabinets work by the suction method. The air blowing through the gun sucks the media out of the bottom of the cabinet through a tube (venturie effect) and after being blown on to the work piece, falls back into the bottom of the cabinet. There is some mess, because the seals around the doors aren't perfect. But for the most part, the media is recycled.
Those suction type guns tend to pulse and not shoot a continuous stream of media, again wasting some time and compressed air. Also, they are easy to clog, hence the 'clean dry' air listed above. I've been thinking of getting a pressurized blast pot for mine. That should give a more constant supply of media.
For media, I use glass beads, they won't harm the metal. I think crushed walnut shells work about the same, but I never used them. DON'T use aluminum carbide...I use that to etch glass. You're parts will never be the same. And don't use play sand as there is a hazard of silicosis (sp?). I'm not familiar with soda blasting.
Yes, a shop vac will cut down on the dust, but use the bag filter instead of the foam one, or it will just blow the dust into the air outside the cabinet.
It says that the nozzle is ceramic, so it should last a long time shooting glass beads. Not sure why you're worried about the hose length. You're going to need a supply hose no matter which cabinet you get.
And if you need to buy a compressor for this project, that's a whole other discussion!
HTH's.