After learning how to handle diodes, and all their finicky ESD susceptibilities, after you've built a functioning laser diode driver, and have built a functioning, current controlled diode based laser, and after you've learned how to use that laser with glasses on, and how to keep it out of reach from friends, family, and animals..
you can then turn that 1W diode into a pretty sick table-top lab style IR burner.
And you could do it with ease, with safety, and most importantly, with style.
Basically, learn on the cheap components so that when you DO (and you will) goof up, you only waste $10 at a time, and not $50 at a time. Those higher power emitters are a shame to lose to silly mistakes.
Here, I have dug out for you one of the best threads that a laser building noob can read. Read it twice. Study it. Build your first laser, and you won't have guys like me calling you a noob anymore.
http://laserpointerforums.com/f44/learn-mistakes-can-happen-anybody-50044.html
Don't forget to enjoy building your first laser. Not everybody gets to do that kind of thing, and not everybody can even understand what you're doing, so remember to have fun.
And if you have many more questions, you can always ask. We'll help you out.
-TT