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S5 hardens at quench in oil to somewhere around Rc58-59. If water quenched, the possibility of a RC61-62 at quench is attainable, but a temper at 400F would drop that to Rc57-58.
Imagine a sword blade tougher than any other but hard enough to support a thin edge too...
However, making a sword from S5 will be a good exercise in HT ability.
i think you are right that it will be tricky to heat treat, keeping it straight and getting it to full hardness etc,
High hardness is not usually a requirement ( or even a desirable feature) on a sword blade over one shaku ( 12").
Before you make the actual sword, make a test piece from the same piece of steel. Make a section of sword blade about 12" long,doing the HT exactly as you intend to do on the final blade. Test the Rc on a tester . Test 1/4" from the edge and at the center of the blade post quench, and after tempers at 400F and 450F. post the results here.