it may not be the best bandsaw in the world but I have one from harbor freight and it cuts steel stock no problem I have found that you need the right blades if you want it to last longer than one or 2 blanks but that would go for ANY band saw you get I would think the blades make the biggest difference I was using the lenox diemaster skip tooth they cut like butter but didn't last long a few people recently pointed out to me that the skip tooth wasn't the best so I got the regular 14-18 tpi lenox diemaster the links below are for the saw I have and the blades the saw is half of what you expected to spend...put the rest toward good blades
SAW
http://www.harborfreight.com/horizon...saw-93762.html
BLADES
http://www.mscdirect.com/product/details/02004695