Ringo,
Welcome to the forum!
My experience with L-605 has been with it used for build up of wear areas on jet engines. L-605 is often used as a hardfacing wire, cobalt (49%) and tungsten (15%) make L-605 a material that has great toughness but is not so ductile.
Our buildups were on 718 inconel and Hastelloy X, the inconel required annealing pre weld and post weld stress relief and from time to time we still had some micro cracking problems that inspired us to use micro plasma rather than GTAW in some situations (synchronized pulsed arc/wire feed), also we put quite a bit of effort into innovative heat sinking and robust restraining fixtures.
Before I left the Aerospace business we were also doing trials on on scrap components using "temper bead" techniques with some promising results. Here is some AWS data: http://www.aws.org/wj/sept03/feature.html
Others are turning to laser and finding both increased capability and productivity gains. While I have no experience with lasers here is a cool link dealing with inco 738
http://www.sulzer.com/com/NewsAndMedia/TechnicalReview/Archive/2004_1_Mattheij_e.pdf
Are you repairing turbine blades? if yes, just the tips, or are you attempting heavy sections? If your not building wear areas perphaps an alternate filler metal closer in composition to the inco 738 could be explored.
http://www.magnatech-lp.com/Articles/EPRI-Text.htm