Tom: Sorry, you are mistaken. There are definite benefits associated with -120F, although the benefits of LN2 @-320F are more.
Even at -120, you are fully 190 degrees below RT, and, for most steels you can get into the 90+% Martensite range. LN2 will get you 99+%, and, for all practical purposes it is the ultimate treatment.
You can learn a lot about Cryogenics in the book "Cryogenics", by Bill Bryson, published by Hansen Gardner. It's about $40, and is a great practical book, written in laymen's terms.
Rememember, one of the great benefits of cryo is to compensate for non-ideal heat treatment, of which, I'd guess nearly 90% of all heat treatment performed is.
Dry ice and kerosene can do wonders for a blade that was non-optimally heat treated. For over soaked blades, for example, just putting a blade in the freezer overnight can increase the hardness by a point. I've done it, back when I was first developing my cycles for A2.
------------------
Stay Sharp,
RJ Martin
http://www.martinsite.com