Bob,
Titanium is the "metal of the moment" for striking tools. I have a very close friend who created the first ones. He had been using steel, then was approached by Ruger about developing a line of hammers. Ruger has been having problems with a declining fire arms market and wanted to diversify.
Check out the video, then look at the products:
http://www.youtube.com/watch?v=p1Vk2hMO0ME&feature=channel
http://www.stilettotools.com/
http://www.stilettotools.com/now-available.php
I'll bring a couple to the Sacramento meet on Memorial Day. I have wood, alloy, and poly handles.