Hi Wulfgar
Forging a section of flat bar 1/4X2 on edge should be pretty rough as the edges want to move more than the middle you are likely ending up with a small I beam. If you can keep the width to thickness rato 1:3 things work much better, then as you aproach the end of the project make it thinner. Perhaps starting with a heavy coil spring or spliting the leaf spring would work better. If I were trying to get 2 inchs of leaf spring down to 1 inch with only hand tools I would get someone to strike and use a hot set with an offset handle. Be sure to put a cutting plate on your anvil so you don't wreck it or your tool. Also be sure to have fun.