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I take my edges to 1/32" before heat treating. I have an oven and can accurately and evenly control temperature. If it's a longer, thinner blade, or if you have poor temperature control or uniformity, you may go a tad thicker, say the thickness of a dime. You'll just have to work a bit more on the grinder after heat treating. Be carfeul not to overheat, and dunk in water frequently.
For plate quenched stainless, you can go much closer to finished, but I take both stainless and carbon steels very close to final grind. You'll have less warping with carbon steels by leaving more metal on, but for the size I most commonly work in (7" OAL), I haven't had much probelms in warping going to 90% on oil quenched steels.
--nathan