Industry does use this stuff for some cutting. It would appear that the primary consideration in its creation was for a steel that could be used on intricate and odd shaped parts with little distortion in the heat treat, hence the air hardening abilities of this steel. The high Molybdenum and Chrome levels are going to pose some serious challenges to forging this steel, as well as the air hardening characteristics. One would have to put more effort into getting this stuff soft enough to grind after forging on it than what it may be worth in the long run for the smith. For stock removers it could make a nice blade and you could make some pretty interesting shapes with whole lot less warpage in the heat-treat. But for trouble free forging I would have to call this one a square peg.