jpeter,
I have been using sash weights for my cast iron for many years, and haven't blunted a bandsaw blade yet with them. Mainly because I don't use a bandsaw for cutting it up. An angle grinder to just score thru the skin, then persuade it to break with a lump hammer, or just dropping it on the floor has the same effect (concrete, not carpet). Then a quickie 'under the skin' cut to remove the hard outer shell. No broken blades or cutting tools.
to save a dollar on a piece of steel
It is a little more than that. I can obtain from one 35 pence sash weight, a good piece of useable cast iron, normally around 13" long x 1.375" OD, which, if obtained from a metal factor, about 15 pounds. I wouldn't call that saving a dollar, more like using your brain.
The quality does vary, depending where you come from. Here in the UK, we seem to have much better quality castings than from what people have said about US castings.
After removing 3" to 4" off the casting, opposite end from the hanging loop, all the dross and crap has been removed, and except for the loop itself, everything is then useable.
It machines and cuts just like any other close grained cast iron, and has been used for almost all the cylinders, engine blocks, pistons etc for the small engines I have made for many years, and I have never come across any problems. In fact, because they are usually over 100 years old, they have 'weathered', and the grain is exceptionally fine, and can be polished to an almost chrome like finish.
I am not boasting now, but the only time I purchase materials is when a customer requires a certain specification, otherwise I use whatever comes from the junk pile for making these little engines, or even tooling. Once you have gained experience in machining materials, you should be able to cut most materials with no or only normal deterioration of your tooling. If ever I break a bit of tooling, say a carbide tip, it is invariably machinist error, by being too eager to get the job done, taking a 0.250" cut rather than a 0.125" cut.
We are not in the 'full sized' world when we make these tiny miracles, so as long as you make the parts out of 'compatible pairs', then really, there are no reasons to go for exotic materials. Cranks and camshafts, for the amount of use they will get in their lifetime, can just as easily be made from free cutting mild steel, then a bit of case hardening afterwards, but only if needed. Only in a very high speed and/or highly stressed engine would I consider using some of the metals that some people seem to crave for, even when making the most mundane little engines.
It all boils down to experience. You get a sort of 'feeling' that what you are using is just fine for the job you are doing, and that has never let me down for many, many years, even when working for a living.
Bogs