I might suggest that it can be difficult to achieve the Bainite phase, whithout going to either Pearlite or Martensite, and even more difficult to assess whether it has been achieved or not.
But, I'll add here that mt base of knowledge is not as a razor artisan, or in any way connected to the straight razor. My experience comes from a lifetime as a Tool & Die Maker. Our cutting angles were very different, and we were concerned with cutting and forming metals, not facial hair. That said, I have worked with 01, both in pre and post heat treated states. We also did some of our own heat treatment, but that was very crude compared to the experts.
So, I suppose some of what I may add may or may not apply to the world of the straight razor..
I will let the reader decide if any of it is valid or not...

Knowledge is Power, and I don't think that anyone can attain too much of the former.