To answer your question(s). In my 40 years of my awareness and use of this metal form is that it has been referred to exactly by both of your 2 versions in the UK- Precision Ground Flat Stock and/or Gauge Plate. '01' is possibly a more recent description/label?. Then there is all the other Spec derivatives to further confuse.
For me, it is a pleasure to work with in any size. As previously mentioned, along with the good advice, good quality sharp tools are essential.
Cutting is fine with my Eclipse/Sandvik 24t bi metal 12" Hacksaw blades, Correct speeds/feed pressure for drill sizes and of course as not mentioned yet…..lubrication is essential.
Maybe practice on a piece first to become familiar with it would be beneficial.
Edited By Richard S2 on 14/02/2017 11:52:29