Platypus, as has been mentioned, the closest I feel I have come to "organic" steel is the bloomery material I make from the ores I dig here in Michigan. I didn't want to hi-jack you thread with a blatant "everybody look at my knife!" post so I have started a separate thread here:
http://www.bladeforums.com/forums/showthread.php?p=9035491#post9035491
Stacy is correct that part of the line-up at next years Ashokan is a smelt from Lake Superior magnetite sand to a heat treated blade.
"homemade"?
I think it would be a lot of work for some potentially poor quality steel.
ac1d0v3r1d3, as a guy who works with the stuff all the time I feel I need to say something to this... you may not know how right your are

! It is WORK, a lot of it and the time and cost make it some of the most expensive steel you can work with (damascus is cheap by comparison). And all for a very unpredictable product with none of the consistency or many of the nice properties of modern steel. But it is
so cool for entirely different reasons than we normally look for in knives.
It does have other endearing qualities other than the novelty factor, it welds forges, grinds and polishes like a dream, with no comparisons in modern steel. Of course it is a P.I.T.A. to heat treat but when working it it does feel, smell and even tastes more "organic" than any metal I have ever experienced, short of that Keweenaw float copper.