A 3 foot long 6 inch round bar of cold rolled 1045 is around $750 from Speedy Metals before freight. A 6 x 36 bar of hot rolled, heat treated 4140 (27-32 Rc) is like $711. Hot rolled 1018 is like $525 and a hair over $2 a pound. I would think that 1018 would be just find if you planned to used dies. On a semi-related topic, would a 4 inch bar of 1045 or 4140 be ideal for a round post anvil?
Yeah, no reason to use tool steel for the anvil, nobody does. Get the cheapest steel you can find, that you know is mild. In fact, some odd-ball tool steel may have more issues with cracking where ever/how ever, your dies mount.
One common method of die mounting, used on the Pheonix/Bulls, and I think Ken's hammers, which is easier than machining a dovetailed sow block, is to drill/tap 5/8" holes on a 5" circle, usually at angle, 4 locations, so you can mount the dies facing different ways depending on hammer setup, then you use 6" round, 1" or so thick, for the base plates for dies, and you can weld various dies to this, and then HT, or cut them integral from 6" diameter tool steel of choice, and drill two holes for the mounting screws, on either side of the dies.
As to the question of post anvil, if you're going to harden it, just use 1045. Easier to HT, and it'll hold up just fine, in fact, the vast majority of antique anvil face plates are probably something similar. It's also about the optimal steel to use for hammers and top tooling, at least, until you get all wrapped up in the mental masturbation of "optimal steel" on paper considerations.
Is some high alloy tool steel theoretically better? Absolutely, and if we were pushing the tool/material to it's limits, it'd be foolish not to use it, but when you're only utilizing a tiny fraction of it's toughness/strength/wear resistance, whatever, you're just overcomplicating things and throwing money at something for no reason. It's like having a 500hp super car that you never drive faster than 25, just to go to the grocery store once a week, and you don't even care what it looks like, more hp has to be better right?
1045 is dead simple to HT, using anything available, heat source, quench method, and tempering. A fire, a pond, and a torch could get you there with some consideration.
Edit: sorry I get a bit ranty, not directed at anyone, especially you jdm61.