I can't say what type of steel it is, but I use it to practice my file art and blade grinding. It's soft enough to work easily and it doesn't wear my belts out very fast. Perhaps, most of all, it saves my file-art files. These buggers are very expensive and I am very careful to put them away when not in use.
When I get a really nice design, I engrave the specifics, measurements, files, etc... onto the side. I drill a hole in the side and keep them on a ring for future reference and for use when a customer needs some references to a type of work.
I also experienced fast rusting on them. I buff them up and give them a shot of clear lacquer.
Hope this gives you some ideas you never considered...
Bruce
[This message has been edited by Bruce Jensky (edited 01-30-2000).]