Some people make knives out of full hard HSS power hack saw blades, forgoing the need for HT. There is a guy, Alvin in Arizona, that makes meat processing knifes this way. For skinning cows etc. Really fine honing angles, like around 5 deg. Did well in Cliff Stamps cutting tests. Apparently holds an edge well and cuts like the devil, when used with care.
I have made a couple of crude knifes (read: tape for handles) for use around the shop in M42 cobalt HSS. In a side by side comparison to a HRC 62 D2 blade, and a production Gerber blade, the M42 had the best abrasion resistance in my use. Not by a huge amount, but noticeable.
I was using it to slit rolls of Scotch-Brite before feeding it into a press. Abrasion was a real problem. Very hard M42 held up fairly well.