Hi Neil,
As I have already said Silver steel is not a suitable material for springs, and with respect to Grey neither is gauge plate the best material. It will work and can be used but it is not a good substitute for a specialist spring steel such as EN45, EN42, EN47. The most "forgiving" of these is EN45 and I would recommend this for your application. It is used widely for springs with multiple compressions, motor vehicle springs, press tool springs and shotgun V & flat springs for example.
Greys method of production is a good method and if I was making it I would bend the material hot, this will enable you to get a better shape, also leave it a little longer so you can make a closed roll then cut out the opening for the legs etc prior to hardening and tempering.
To harden and temper heat to a cherry red and quench in oil, degrease and polish up with emery, make sure the last polishing is with a new piece of fine emery and do not touch the surface. Temper to a full dark blue in shaded daylight [nor bright sunshine]. Alternatively you can put a small amount of tempering oil in a tin with the spring in the tin –not need to polish, then heat the tin until the oil catches fire [outdoors of course] keep playing the torch on the tin just enough to keep the oil burning until the flame goes out–all oil burnt. Leave to cool and you should have a correctly tempered spring.
If tempering by colour it is best to heat indirectly by placing the component on a plate or in a tube then heat the plate or tube until the colour shows.
If I root around I can probably find a bit of material but its not a thickness 1/16th that I use much. PM me with your address and the size you want and I'll send you some to play with.
John.