Isothermal information is rarely available for the formation of martensite in Fe or Fe alloys due to a very high rate of transformation compared to the rate of heat conduction. Such information has now been extracted for lath martensite in some sets of Fe alloys from available information on ultra-rapid quenching but only at a single temperature for each alloy, related to its two MS temperatures. The temperature dependence could, thus, be studied only on binary sets of alloys. Those results have been applied to mathematical models based on the Arrhenius equation and illustrated with Arrhenius plots. For three sets of binary Fe alloys, a large group of rates came close to the rate of an almost pure and carbon-free Fe-C alloy. It illustrated that Cr, Ni, and Ru in low contents have relatively small effects on the rate of formation of lath martensite in Fe. It also demonstrated that the present measurements have considerable reproducibility. In contrast, a set of Fe-C alloys did not give a straight line in the Arrhenius plot. Using a new mathematical model based on the concept of the Arrhenius equation to express the effect of carbon, it was possible to predict the rate of formation of lath martensite for Fe-C alloys with fixed C content and their temperature dependencies which are not available experimentally due to the very high rate of formation.