Hello, all. I haven't posted for a while since I got this new username, but for those of you who remember, I used to be Bob Aberton.
At any rate, I'm a freshman at Maine Maritime Academy this fall, in the Auxiliary Sail program, hence my need for a rigging knife.
The other day I picked up a knife for $8.00 at Hamilton Marine - ugly red plastic handle, too sharp a point, but the blade is high carbon Swedish steel, seems like it'll take a nice edge.
If anyone's familiar with the Hamilton Marine catalog, it's the Frosts Sport Knife - item "K," page 75 of the new catalog. The catalog lists the blade as stainless, but mine like I said is something called "high carbon" steel. High carbon is the good stuff, right?
What I already know I have to do to make it a good knife: grind down the point so it's slightly less murderous, make a good leather sheath for it, and (not necessary but...) do something about that red plastic handle (I was thinking of a couple of turk's heads, once I figure out how to make them).
So what would I have to do to make it a workable rigging knife? Can it be done? Should I give up trying to outfit myself on the cheap and spring for a Myerchin instead (I know Myerchin would be better quality, but I'm just starting out as a sailor and I'm a poor college student)?
Sorry I can't post pics of the knife in question, got no camera. I'll try and put a link on here to the Hamilton catalog. Thanks in advance for helping out a neophyte sailor.

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That way there's less grinding to do to finish the job. As others have pointed out - cool the blade in a cup of water early and often as you grind. As to the red handle, no one is likely to steal it, but if they do, it'll be easy to identify 