I think that it has more to do with heat treatment more than anything else. In all of the material data sheets I've found, S7 beats 158 in everything but density (slightly less dense), and toughness (rated the same on some sites, one site only rates 158 as a 9 and S7 an 8, another rates S7's toughness as higher). They can both be treated to the same RC hardness. S7 has far superior wear resistance, hot hardness, lower distortion, higher resistance to cracking, and a much higher resistance to softening.
I'm sure that with the proper heat treat, S7 could make a superior bolt material. The thing is, 158 has been used to make bolts for so long that they've got the heat treat down. It's of my opinion that S7 hasn't been used enough for AR-15 bolts to find an ideal heat treat procedure to be discovered and utilized.
Bookmarks