It's a nice project, but it's EXTREMELY dangerous! Professional welders often run at low voltage and high current. Microwave oven transformers run at high voltage and high current. If you touched the output of a real welder, you might feel a jolt, but it probably won't kill you. One touch from a microwave oven transformer will kill you on the spot.
I hate to be "That doomsayer guy", but that's a death machine if you're not careful. Please take necessary precautions when using it, if you use it at all. I can't even begin to tell you how much damage it could do to you if you slip and touch it wrong