With Milwaukee’s 8″ Metal-Cutting Saw you can cut 10-gauge sheet and 1/4″ plate steel all day long, with the convenience of cold-cutting and metal-shaving collection. With proper cutting techniques, Milwaukee claims that the saw can cut 3/4″ steel plate.
I didn’t find any info on the steel quality that those specs are based on, but mild steel is the likely bet. Milwaukee has worked up a cost comparison for the saw’s blades: $0.20 per blade, versus $0.60 for an abrasive wheel for a right-angle grinder.
In a production environment the ongoing savings might offset the $245 asking price, but the average DIYer is probably better off sticking with a less expensive tool.