Does anyone have any experience with them? I would assume the steel should be good.
Anyone can translate the inscription on the blade?
Well CТИЗ by itself doesn't mean anything its an abbreviation. By way of an educated guess I would imagine that the "C" in this case stands for СТАЛЬНЫИ or 'steel' and the "З" stands for ЗАВОД or 'factory'. So its probably something something steel factory. Unfortunately unless someone knows this specific factory abbreviation you may not be able to find out as it probably shut down long ago. I did a quick search on Yandex.ru for steel factories named CТИЗ and got nothing.
Any idea on what the blade says?
The blade says STIZ in Russian script, but there is a difference in Russian letters as they are printed in books and how they are written by hand. When Russian is written by handwriting the letter 'm' is a T. Sorry I assumed you knew that. So the word on the blade is exactly the same as the tang.