Yup, that is an M-1 bayonet, someone did a lot of grinding on it. It's most likely like jewelryguy suggested, someone turned it into a hunting/camping knife. Strange its not marked, there should be a maker and an arsenal mark unless all of that was ground off too, or unless it's one of the modern Chinese copies that someone cut up.
There are some out there that were cut down during the war.... guys wanted a fighting knife and the bayonet was just too long for effective hand to hand combat. They're typically referred to a "theater made fighting knives" and if there was any way to prove yours was one of those it would have some collector value. As it is though it's just a cut up bayonet. Still a nice knife to have though.