The reason drill-bits and cutting tools wear out faster on ti is because its thermal conductivity is only 1/2 that of steel. So the surface temperature at the contact area heats up a lot more than steel. This heat wears out cutting tools faster.
Rockwell (surface) hardness of ti is about 1/10th to 1/5th that of steel. Modulus (stiffness) of ti is also about half that of steel. However, strength (yield & ultimate) can be twice that of steel, so you've got a soft springy material. Knurling tools will work just fine on ti, you'll need to run it through twice because the material springs back and doesn't take a set as easily as steel.