A novel processing route developed at the University of Oulu comprising thermomechanical rolling followed by direct quenching and partitioning (TMR-DQP) has shown great potential for the development of not only tough, ductile ultra-high strength structural steels, but also hard abrasion-resistant steels. TMR-DQP processing route has come a long way, since the first experiments were successfully conducted using 0.2C (high) Si and/or Al steels. Right from designing appropriate compositions to establishing the DQP parameters with the aid of physical simulation, the emphasis was essentially made to ensure that the process was cost-effective and amenable for industrial hot strip production.  Significant progress has since been made to extend the processing route to medium carbon steels with special emphasis on innovative approaches to realize excellent combination of properties. The key research strategy encompasses studying structural refinement approaches, phase transformation characteristics, and accompanying microstructural mechanisms using advanced metallography as well as analytical techniques including atom probe tomography. The accomplishment of reasonable ductility and high toughness with these complex microstructures has been characterized in respect of associated deformation and fracture mechanisms.