I love 5160. If you look at Kevin Cashen's site; apparently he likes/uses 5160 too.
My largest complaint with it however is the problem with imperfections/inclusions deep in the bar, right from (some of) the factorys! You work and work on a blade only to find as your doing your finish grinding after hardening, that theres some nasty little line in the steel and the more you grind/sand, the larger it becomes. No doubt there are better sources for this steel than "Security Steel" as thats who I bought from. They, Security, are big suppliers to the auto and trailer industy and to be honest, they make a good product for that; they don't give a damn about knifemakers...
I ordered several times from them and it wasn't always a problem. Smaller stuff like 3/16x3/4 was fine, and, their 1084 (all in small sizes) was fine; but the 1/4x1.5 and 1/4x2 in 5160 would have these imperfections. Kevin talks of this problem as he's tested a number on factory runs of steels and found them inconsistent in their cores before ever lifting a hammer over them. There are a couple of good threads where he's discussed/commented on this. Ditto "Mete" (userid).
If you go with 5160, ask Kevin where he gets his. I've become a scrounger for old car spring steel and hardly ever buy anything anymore, the old stuff is just super consistent throughout the spring. Not so apparently these days. If and when you can find a good stash of something and it hardens, have it tested. I now have 1000 lbs. of 1084 Caterpillar grader blade edges.... the stuff is 1/2 inch wide and I'm fixed for this steel till the cows come home.
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