I'd say give it a whirl, but be warned, it is very addictive. I would think that a crosscut saw would make a very good knife, but I've never used it before. Some of the other guys on here have a lot more experience with different types of metals and will probably be more than willing to help with annealing and heat treating advice. As far as tools, I have made quite a few knives using a 6" bench grinder, a drill press, a band saw, and a small belt sander, along with a small assortment of hand tools(hammer, pliers, files, etc.). Every thing that I use these tools for can also be done with everyday hand tools. I've seen some incredible looking knives that other guys have done with nothing but a couple of files to shape the blade, a coping saw to cut out the handle, and either a rasp or sheets of sandpaper to shape/finish the handle. Good luck, and I hope you get some helpful advice.