Because of the limited supply chains, material costs and processing difficulties associated with cast titanium, designers have expressed a need for alternative high specific strength investment cast materials. While much of the focus has centered on corrosion resistant steel development, low-alloy steels serve as an attractive lightweight material when corrosion resistance is not a major factor. Just as with high-alloy materials, proper processing and composition practice must be applied to develop good strength and toughness combinations in these materials. In particular, new novel formulations of complex carbide high-strength low alloy (HSLA) systems provide a cost effective alternative to titanium where good specific strength and high low temperature impact toughness in non-corrosive environment. However, many of the wrought systems and processing effects have not been well-studied, particularly in the cast systems. This paper will cover the current state of development in the literature, as well as the adaptation of newer wrought alloy systems for use in investment castings. In particular, the role of composition and novel processing techniques such as hot isostatic treatment, cryotreatment and temper development will be discussed.