Several years ago, I met Blackie Collins at a Knifemaker's Guild Show. While discussing steels, he told me that there's no such thing as a bad knife steel. If it can be hardened above about 55 or 56RC, you can make a perfectly serviceable knife out of it. The caveat, of course, is that with proper design, grind, blade geometry and heat-treat, you can make a perfectly serviceable knife. As an aside, BC was a big fan of the Sandvik alloys, steels actually designed for cutlery, for their cleanliness, fine grain structure, and relative ease of getting a GOOD heat-treat. Unfortunately, not all makers take the time or expense to do a proper heat treatment. The thing that irks me more than the hype around the super-steels is when a manufacturer uses sub-standard, non-knife steel, like 3cr13mov, or even 5cr15mov, and tries to make it sound better than it really is. You can put lipstick on a pig, but it's still gonna smell like a pig.