Don---I bought the same saw from Menards for a lot less than that--

I got it because it had the narrowest amount of stuff on the side and I used it to cut up some subflooring as close to the wall as I could get in a house--does a super job of that and doesn't throw the dust around too bad

I haven't used it to cut any steel but it does have a way to feed wax to the blades for lube---I also think it would only cut thin stuff

I think that in your frame, I would use a saw-all or the plasma--portable Milwaukee band saw would work nice also

But I wouldn't pay $200 for a saw just to cut some steel that I already had tools to do it with