I had a "Japanese Style Katana" made a few years ago by Michael Bell, who forged elevator cable (1095 steel) for the sword. The effect can be best described as "lizard skin", and does look kind of cool. The blade itself is super tough, can be given a very sharp edge, and holds its edge well.
Large pieces of cable steel are difficult to flawlessly forge. My sword had a couple of very minor, yet visible welding flaws, which swordmaker and knifemaker Rick Barrett said are almost impossible to completely avoid. For a much smaller blade like a khukuri, it might be a nice material to work with.
5160 (truck, not car spring steel; thanks Munk!) is obviously an excellent material, and it doesn't look like it will be replaced anytime soon. However, it would be kind of neat to have a few "special pieces" made by the kamis once and a while using cable, L6, S7, damascus, or meterorite iron.
Dan
