An iron-based sintered powder metal article for cam lobe and other high temperature, high wear applications requiring excellent net-shape stability during sintering comprises a powder metal mixture consisting essentially of, by weight, 0.5 - 3.0% Mo, 1 - 6.5% Cr, 1 - 5% V, and the balance Fe and impurities. These articles also have a carburized case having 0.7 - 1.2% C by weight. Following carburization of the case, the articles are quenched to form a martensitic matrix having a network of disbursed carbides of Cr and V. The resulting sintered articles have good mechanical strength and wear resistance and possess excellent machineability and dimensional stability.