I was trying to figure out a way to cut a Bogota for my jackknife set from some old feeler gauges that I had. I really didn't want to make a mess, so I was trying to avoid using the grinder. I figured I'd try my sheet metal nibbling tool. http://www.harborfreight.com/nibbling-cutter-97636.html
I was pretty impressed how perfectly it cut through the metal. I was using a .20 piece, and it went through like a hot knife through butter. I was able to nibble out precise lines, and only had to hand file to clean up tight corners and smooth everything out.
It also blew through a hacksaw blade like it was paper. (.023 thickness per the micrometer)
It stopped short of gong through the .032 steel though
All in all, at $6.99 its a very easy way to make picks on the cheap. Even though I used my bench vise, I think you could rock out some decent tools with some files and a vice grip. plus, as an added benefit, theres no heat to ruin the temper, as with grinding.