-Rockwell C scale hardness: 45-55, and relatively brittle
-Good corrosion resistance
-According to the interwebz, "After the heat treatment alnico becomes a composite material, named "precipitation material"it consists of iron and cobalt rich[9] precipitates in rich-NiAl matrix."
This is the heat-treatment for making a magnet from the alloy, and other heat-treatments could result in different properties.
Conclusion: It's worth it to try to make a light-duty alnico knife, due to hard, toothy precipitates in a softer matrix, plus it would be a magnet knife!
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