All of the 'new' Old Timers imported by Taylor Brands are stainless. They don't have the 'USA' mark on the blade tang. Most of the older USA Old Timers were 1095, though some were stainless and usually, but not always, marked as 'Schrade +' on the tang. If there's any doubt as to whether a particular OT is stainless or 1095, the 1095 blades will patina very quickly if exposed to acidic foods (grapes, pickles, etc.) or anything with vinegar. You'll also likely be able to 'smell' the carbon steel react to acidic foods, and the foods will quickly take on a very metallic taste.
I think the 1095 blades on the Old Timers aren't particularly hard on the RC scale, maybe mid-50s like most other similar knives. But they're definitely good, with a nice springy temper. They sharpen up real easily, to a great edge.