If you want something really nice, you could use pre-hardened 4142 ground stock (MSC, and others, sell it). It machines well, as long as you don't try to hurry it any, and it ought to be plenty durable. The only drawback I see is the cost of the stuff -- it's fairly expensive.
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Try to make a living, not a killing. -- Utah Phillips
Don't believe everything you know. -- Bumper sticker
Everybody is ignorant, only on different subjects. -- Will Rogers
Law of Logical Argument - Anything is possible if you don't know what you are talking about.