I have a rather heavy Grob bandsaw and bought the heaviest "machine base" sold by Grizzly. The problem is not so much the frame as it is the wheels and the attendant friction. Yes, I can move my bandsaw, but it takes herculean strength to push it around. Judging by your idea to use 1/8" angle iron, I'd say that you are approaching this task a little too simply. Asking for input is an excellent idea, but also take a look at how other machinery bases are constructed and what is the design weight limit. 1,200lbs is considerable, and I would select the wheels first, deciding which and how many should be swivels. That will help determine the mounting brackets that need to be incorporated in the design. I always thought it would be neat to have the wheels for my bandsaw mounted internally. Grizzly has an online catalog that you can start with. My local Woodcrafter's store also has similar bases, but nothing I know of for 1,200lbs of machinery.