My P-50 is 4 or 5 years old and still works great. Do not let it flame up when quenching (blade probably too hot if you get flames) and no edge quench. Pour it off and clean the crud out of the bottom of the container once a year or so and it'll last a long time. When it gets a dark color to it (not longer clear), time to replace.
PS, I do 40-50 blades a year.