Hi Todd,
It's good to know yourself and what you truly seek. Your resolve to follow your heart's desire and study the sword is most admirable.
I, too, aspire to follow the approach of learning to use a genuine, sharp steel sword. Even so, I enjoy the safe advantage that wooden and/or bamboo swords offer, in terms of avoiding potentially serious injuries. Sure, kumdo is largely Japanese kendo and more of a sport than a method of swordsmanship (strictly speaking) but gumdo practitioners might consider broadening their practice to include sparring with bamboo swords and donning body armor. One can never underestimate the value of facing a real opponent, using full force and full speed, whose only goal is to beat you (hit you before you hit him/her)!

Yes, I use live steel both, for solo practice and cutting targets. Gumdo certainly emphasizes these aspects of
the way of the sword. Still, I personally feel you might gain an even deeper understanding of the contemporary KSA (Korean sword arts) and methods of swordsmanship, by also participating in any local dojangs that teach kumdo. Barring a dojang, perhaps a kendo dojo? That is, if you want to train within the social structure of an organized martial school, more than once a month.
While it is absolutely possible to progress, within the confines of a limited exposure/schedule to the traditional teachings, it is radically more challenging. Self-study is a wonderful thing, accompanied by qualified instruction but be prepared to impose self-discipline on a regular basis. Even so, if I had half a chance, I'd study as often as possible, regardless of lineage... and I do.
Is it possible to practice both systems, simultaneously? Absolutely! Some JSA students study kendo, iaido and kenjutsu (at some point in their training), often simultaneously. While this is the exception, rather than the rule, I suspect you are an exceptional person. Both kumdo and gumdo are enriching pursuits. They are actually two sides of the same coin. Yes? I enjoy forms practice (regardless of cultural origins or stylistic roots), cutting practice (with a variety of swords), 2-person applications practice and light-contact/ free-play matches against an opponent (with wooden swords mostly). I really couldn't imagine my path to understanding, without any single one of these components. After all, they are all
the way of the sword, no matter how you approach it.
Be well and practice often, Jon Palombi