My thoughts on the annealing procedure for stock removal guys....The divorced eutectoid transformation (DET) is usually done at the mill. Or maybe better stated, "should" be done at the mill. From Verhoeven's "Metallurgy of Steel" concerning the DET anneal, "It requires no quenching and is therefore used in industry to produce the spheroidized structures of cementite + ferrite in which these steels are supplied from the steel mill." For stock removal guys, there should be no need to perform this procedure. And to that point, there should be no need to normalize or cycle it, either. On the other hand, if 52100 is being forged, and especially if the blade needs machining/grinding/drilling, then the idea is that the DET is the best anneal for hypereutectoid steels.
But there is another consideration...with the spheroidized issues we have seen come from certain mills, and in order to know exactly what condition your blade is in prior to austenitizing, it makes perfect sense to set up the matrix the best way possible. Normalize, cycle, anneal, austenitize/quench/temper.
Good thoughts, as usual, Larrin. Makes me think harder and harder about squeezing the most out of what steels have to offer, and how to go about doing it.