rookie,
The oil is pre-heated to 130-160, the only portion of the blade that is brought to critical temp is the edge section (1/3-1/2 of the blades witdth as viewed edge to spine)
The torch works great, just don't get in a hurry. By this I mean use a "soft" flame (one wheret he torch is not hissing loudly)
A magnet is the best indicator of critical temp there is. It never needs calibrating, and it will not give you incorrect readings. When the steel is no longer attracted to the magnet your ready to quench.
As to the cool down, leave the blade in the oil, and let them cool down together. This has the effect of helping to maintain/decrease the grain size (almost like annealing it again) I preform this operation 3 times, allowing the blade to cool overnight in the oil between the quenches. It is time consuming, the entire heat treat cycle that I use takes 5-6 days depending depending on whether or not the sub-zero quench is employed.
This, combined with the proper blade geometry makes for a high performace package. Edges can be expected to be Rc 57-59, with the spine being Rc 38-40.
Your objective is NOT to get the spine or the tang even up to critical temp. 5160/52100 have a tendency to mildly air harden, even when the temp is kept below critical. What I seek is a blade with a hard edge, soft back, and a dead soft tang.
Take Care,
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Ed Caffrey
"The Montana Bladesmith"
www.caffreyknives.com