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Ya, .125 would be fine, a little thick for paring knives but you can grind it down. It would probably be too thin for forging but you're not planning to forge the blade as far as I know.
If you can't get 1080 or 1084 fas enough to suit you then get some O1. It will be more expensive and you won't be able to heat treat it to its best performance but it is easy to use and any half way decent HT will result is a decent blade ....
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