Ehh since this doubles as a fire wand...

Is is possible to use blaze...? or fusion bolt for that matter?

I just got one and sold it, the guy I sold it to I had him try out some stuff. You can run with meditation, use fire bolt, fire ball, blaze, and fusion bolt. He is going to get back to me when repair time comes to let me know the repair prices. Then I'll post them here

So it's essentially a sword-shaped wand...sounds interesting.

Basically yes. Still expensive to fix but it gets blacksmith repairs.

Can you harvest fire elementals from fire sprites with this?

You probably could o-o