Leaf springs generally are good steel, but are more useable for guys that forge. Riley sounds more interested in stock removal for the time being, and judging by the tools he has that would be easier for him.
The first thing that needs done with a leafspring is it has to be straightened and normalized, which is not something you could do with just a torch.
For a beginner at stock removal, buying new steel is usually the best way to go. It will be flat, annealed, and ready to work with. It will also be a known composition so that you can easily hire someone to heat treat it, or learn to heat treat it yourself. Learning to heat treat with an unknown steel is a bad idea. You take away the control of knowing what the outcome should be and what process you should use. If it doesn't harden properly you may have made a mistake, or it might just not be what you thought it was. Its best to limit the number of variables when you're starting out.