Anupam, I'm sorry that I've given you the impression that I do macro work with a handheld Graphic. I shoot my Graphics closeup on tripod and 2-axis focusing rail. Sooner or later I'll get a little lab jack to get adjustability in 3 dimensions. Rotation in 3 dimensions would be nice too, but is impossible on my budget.
I've thought about how to use my Graphics handheld. My best idea is a very old one. Magnification-specific focusing frame. I don't like it, set up with an adjustable camera seems too difficult.
I'm puzzled by your desire for movements. Remember that swing and tilt are used in situations where it isn't practical to position the camera to make the film plane parallel to the desired plane of best focus. In macro work its usually possible to move the camera or subject to accomplish that. And swing and tilt -- but not rise and shift -- are pretty incompatible with shooting handheld.
Without knowing the range of magnifications you want to work at its hard to suggest gear. I believe that your budget is limited, that will also limit your options.
Enlarging lenses have to be stopped down manually before exposure, but focusing and composing are best done with the lens wide open. So you're going to have a hard time with mobile subjects if you shoot with an enlarging lens.
Bellows are heavier and clumsier than extension tubes. Some MF cameras, e.g. the SL66 and RB/RZ as were mentioned earlier in this thread and Bronica S/S2/EC/ECTL as not mentioned yet, have built-in bellows so with them using tubes to get more or less the extension desired is compatible with getting exactly the magnification you want. Yes, the RB/RZ don't have focal plane shutters but there are good macro lenses for them, and I suspect that lenses in shutter can be adapted to them.
About putting enlarging lenses in shutter. Depends on the lens. I have 100/5.6 Componon, 105/4.5 Comparon, and 105/5.6 Componon-S, all of whose cells will go directly into a #0 shutter. If you check, you'll find that Schneider and Rodenstock enlarging lenses' cells will usually go into a shutter. I also have a couple of Boyer Saphir BXs whose cells go into #1. This is a problem for reversing the things. Unfortunately I don't think that my Enlarging Pro Raptars' cells will go into shutter. But then I also have a 105/5.6 El Nikkor with all of the adapters needed to front mount it facing either way on a #1; any lens in M39 can be front mounted on a #1 fairly inexpensively. Many are the choices ...
I've shot as high as 5:1 in the field with my Graphics. I don't recommend going much above 1:1. For me, the big advantage of the larger format is that it lets me put more in the frame without giving up fine detail. I can get the, um, big picture better and keep good detail in the main subject much better with 6x9 ISO 100 Ektachrome than with 135 KM. In fact, I have to work hard at resisting the temptation to fill the 6x9 frame with the main subject, as is often necessary when shooting 35 mm.
Good luck, have fun, go back to the drawing board,