The referenced comparison chart is missing two crucial items related to Rockwell hardness. A232 tops out at 51, while M2 is 65. Hitting 50+ on spring steels is not reliable with home shop hardening procedures. And, due to the above red hardness limitation, you will need to run the spring steel tool at 1/2 the SFM speed. This may be very limiting. Another thing I never see mentioned is that if the tool ever gets dull or catches, it will experience local heating. This is absolutely fatal for spring steel, since it will go into a downward spiral quickly. You will have to cut the tip off and start over. This is especially annoying with a one piece boring bar, since if you cut off the tip, you might have to cut off the whole shank, and the tool will be too short. Beginners, especially, have a hard time hand grinding a boring or internal threading tool, and it is such a pity to have a decent tool and have a second's inattention causing the tool that took a day of tries to get working to be made useless.
Saying all that, I used a torch hardened piece of scrap spring steel to make an internal acme threading tool for cutting a new cross slide nut. It worked perfectly, and could readily be used for another nut should I ever need one. Of course, this was only used on brass. I have stacks of new HSS tools that I can use, but just wanted to try this out. I have had many failures and wasted days, though.