Ok, as I understand it you have ground down this wrench into a blade cooling it to try to keep the temper in it. That's fine as far as it will go but a good temper for a wrench as a good temper for a knife could be two different things. Also, with that much chromium in it I would say that we are dealing with a stainless steel here and probably air quenching. Again, as Carl noted. 0.5% carbon is a little low to be making knives with. It will not give all that much hardness once quenched. However, it does increase the toughness of the steel which is what you will want to see in a wrench.
Doug
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