Jer2349, Look the properties of this steel up on MatWeb,
http://www.matweb.com/ an excellent materials engineering site. Looks like pretty impressive stuff. At a hardness of only 36 on the Rockwell 'C' Scale, this steel displays terrific strength at 145,000 PSI Tensile Yield and an elongation of a bit over 14% before separation. This is fantasic for an alloy steel. After all, 1018 has only 15% elongation. If you have ever worked in an aircraft factory, the sound of the 'yield point' on a Pull Test of a steel round is one of those sounds you will never forget. That sound says, "LOOK OUT!!".
As to weldability, find a good welding properties site; I don't have time right now. Double D is right, this steel is used for leaf, torsion and coil springs mostly.
Tracy