Warpspeed, whereas I largely agree with you that propane is not the way to go for melting iron and especially steel, in fact you can (and I have) melted iron in a propane pit furnace. The flame temperature is infact high enough but getting the concentration of energy into the required target is very difficult. This results in enormously long melt times and cold pours.
The reason I got my induction furnace was that I had to down grade from a diesel fired Morgan Crucibal No5 (1/3rd megawatt and a bit smelly!) to a propane fired Kasenite pit furnace when my neighbour built a house 10 foot from my foundry and I was reduced to the lower melting point metals.
Andrew Mawson
East Sussex, UK