Hi kingmt01,
I have never heard of using bandsaw blades on a power hack saw.
On my power hacksaw the blades are substantially thick.....but the whole machine is way bigger than I've ever needed.
A thicker (stiffer) blade will wander less.
I wonder about any design differences(maybe tooth set?).....hacksaw blades travel backwards in the kerf, bandsaw blades do not.....typically.
I believe the blades should have hardened teeth on a softer band, but how soft is the question.
Did it get hardened some by the (likely) induction hardening of the tooth edge?
Is it soft enough to drill?
I do remember seeing a way to "spot temper" a piece of thin hardened stock. I believe it was in this book:
http://www.amazon.com/Complete-Mode...48&sr=8-1&keywords=complete+modern+blacksmith
It went something like this:
-cut the head off a nail
-chuck the nail in a drill press (flat end down)
-spin the nail against the workpiece at the point you want the hole
-when it gets red hot place it into a bucket of ashes or insulation to cool slowly
-when cool you should be able to drill it
I'll try to double check the book when I get home tonight, and repost if there's any substantial difference.
-brino