Date on the sword is Kansei 10, August.
Bear in mind, in the shintō period the dates inscribed are almost always either August or February (well, strictly speaking its "Eighth Month" and "Second Month" - there is a discrepancy between the traditional Japanese months and those of the Gregorian calendar). These two months are used regardless (almost) of when the sword was actually forged. So best not to take that date too literally.
I wouldn't place too much significance on the title, or the privileges it conferred, or the deference paid to the swordsmith upon receiving the title. It's not representative of admission into the nobility. "Lord" or "Governor", "Protector", etc. are just honorific titles, so the smith isn't in any kind of professional limbo until he receives the paperwork. The title just allows him to inscribe his swords with that title, and of course it is an honor for him to do so, but otherwise his life and status doesn't change. Maybe it allows him to increase the prices of his swords slightly.
Also the granting of titles was, to some extent, a revenue-generating scheme for the bakufu. So the standards for granting of titles may fluctuate depending on the finances of the bakufu and/or those of the officers in charge of granting titles.