5160 is totally useless please send it to me for proper disposal ;-) but being serious, it's great for load bearing, it's flexibility makes it almost perfect for European style sword forging and because of its chromium content will resist corrosion better than other higher carbon steels. Depending on thickness it's pretty tough stuff so I imagine itd also be suitable for short blades.
However. Its a pig to weld, but you can arc or gas weld it if you preheat and slow cool it. It can't be quenched in water because of its prophensity to crack like an eggshell.
What kind of thing where you looking at doing with it?