All kinds of fun stuff, actually, much of which I can't make use of with my relatively simple equipment. But for starters...
First, it shows that you really can't miss the pearlite nose, because it runs off the chart. That's why it's a shallow hardening steel.
Getting it to about 800 F in one second will give you maximum martensite formation, but you still end up with a mixed structure (probably more in the core of a thick blade, not so much in thinner cross-sections.)
What I was wanting to know was the Ms point, just over 400 F, which is when the martensite actually begins to form.
You're right about being able to cool more slowly once you get it under 800 F. If you quenched to 500 F you could hold it there for 15 to 30 minutes and still get full martensite formation. If you held it longer than that, it would creep into the curve zone and you would start to get bainite, which is cool for some blades.
The as-quenched hardness for W1 that I have in another reference is RWC 68. I think the numbers running down the side represent a range of hardnesses that you could end up with. In designing a heat-treatment, you draw a cooling curve on the chart, and there are different intersection points... I'm a little fuzzy on the details at this late hour.

It gives you some ballpark hardness figures, which don't mean much to us because we can't control the temperatures as precisely as the industry guys can.
Basically, the TTT chart gives you all the info you need to design a heat treatment for a given application. You can figure out how to get your steel annealed, semi-hardened or hardened, depending on your application. For us, it shows the conditions we have to meet to achieve a fully hardened blade. There are variations that will work--that's why we get different approaches thrown around so much.
Hopefully someone will correct me where I'm off...
Josh