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At some point in time high carbon steel became much more available and the way things were done changed. I made this one much like they would have in the early 19th century. I am doing it not so much because it is viable (which it is), but because I want to use the old methods. I work at a historic museum and they expect me to make things that way. It just so happens that I like it too. It's the craft and the old methods that I am trying to preserve.
The heat treatment applies to the high carbon bit, for the most part. The mild steel is just holding it all together. Yes, wrought iron was the more plentiful material of the day and HC steel was precious and thus was used sparingly or reserved for the cutting edge or for guns springs and things like that.
