"304,304L,316,316L=300 series, the most common by far, isnt magnetic. L" means lower carbon content as compared to standard stainless of the same numeric designation. "
Actually, the" L" designation means it has the addition of a small percentage of lead to make it machine better.
For instance, 304 L is easier to machine than 304 because the addition of lead makes it break a chip easier.
Same with 303and 303L . I'd much rather machine any stainless with the L in it.
The 300 series is the most corrosion resistant of the stainless. Other than "work" hardening, it is not heat treatable.
The 400 series is heat treatable and it will rust. 440 is commonly used on knives. Gun barrels are made from 410,415 ,420,425.
I have used 500 series of stainless in the production of special tools. This stuff will rust on the surface about like carbon steel , but it is mostly a surface rust and it wont degrade like carbon will over a period of time.
Remington Shotgun chokes are made of 17-7 Stainless steel and they will rust. They are very tough and they are heat treated. I've known 2 of them to crack.
The 300 series are used alot for forming and bending. The 400 series wont do this.Most cookware and eating utensils are 300 series. Stainless tools of any worth are usually 400 series. The few parts on guns that are stainless are 400 series and are usually heat treated.