For impact weapons and tools, S7 rocks the house. It won't hold an edge as well as many other tool steels, but you can pound the hell out of it.
It is more shock resistant than INFI, but won't hold an edge as well.
Metal selection is a game of compromise, you have to look at your intended uses and pick the steel that is strong in as many of the areas of primary use as you can.
For things like blades, hawks, etc, I'd prefer INFI or 5160 over just about anything else. 4140 and 4150 are very good. You don't need the shock resistance of S7 for a handheld tool, but I think they are aiming this at the kiond of person that could destroy an anvil with a rubber mallet.