it depends on the usage. BG-42, 154cm, ATS-34, 440C, the CPM 420V and 440V/s60V and s90V, are all stainless. 5160, 52100, L6, the 10xx series, O-1 are all non stainless, oil hardening steels. 2 completely different worlds. 5160 has .6 carbon content, compared to 1.0 of 52100, and .95 of O-1, and .75 of L6. the stainless steels usually have around 1.0 or more of carbon, and 14. chromium. The simple steels, aka the oil hardening, can be diff tempered, leaving the edge hard, and the back soft so they are tough blades. But they can rust if not taken care of, and may not last as long as a stainless blade. For a kitchen knife, stainless is almost a must, as many people don't understand they have to dry a High carb blade well before putting it away
For a camp knife or big knife, 5160, L6, O-1 and the other simple steels are a very good choice due to the toughness they can achieve with a differential heat treat and quench. Also, most of the simple steels are easy to sharpen. Sharpening D2, ATS, with a regualr stone takes forever, ceramics and diamonds are very nice for the stainless stuff, but the simple steels are much easier to sharpen. The stainless might not stand up to the heavy usage as well as they are at a higher rockwell and are more brittle. But they wont stain, and are harder to sharpen.
As for not being in the same class as the others, its not supposed to be! you cant compare a stainless with a high carb blade, it is 2 different worlds! High carb blades take a wicked edge easily, and are easy to pop back up with normal sharpening stuff, where as the stainless are much harder to sharpen. High carb are much tougher and resilient, where as stainless are generally more brittle, harder to sharpen, etc.
I have used O-1, ATS-34, D2, 52100/410 laminate, and 1084 and 1095. All make great knives from what i have seen, Heat treat is a BIG factor. I like the high carbon steel because it is usually cheaper and easier to HT yourself than the stainless or tool steels. Also, it is much easier to work. I send my stainless/tool steels to Paul Bos for HT, so I know they are good. THe ones I do myself, i use them for testing and trying different methods of HT. I like the high carb because it takes a wicked sharp and clean edge easier than the stainless steels and tool steels.
My advice is to try the 5160 first. BG-42 and ATS-34 are much harder to work, and INFI u can't buy anywhere, its Busse steel, not available to people. O-1 is also a good place to start, as is the 1084 and 1095 steels. If you are forging, forging stainless is possible I think, but it harder. i am not a forger, but a grinder, so i am speaking from that standpoint. Don't try to go out and use the latest buzz word steel when you are starting off. It will be frusturating to work, take more time, cost much more, and if the knife doesn't come out well, you are out of that much more money.
People still use and love 5160, O-1, and all the other simple steels. 440C is also a good steel, but you don't hear it mentioned anymore. people love using buzz word steels, the newest and greatest supersteel, but the simple fact is that most steels are very good, depending on HT and what they will be used for. Many people like 440A or 420 HC because of the low cost, easy to sharpen and very rust resistant for production knives, collectors like stainless because the blades are less likely to corrode on them in their collection, and people who will use the knife like a tool steel or high carb blade because it is durable and easier to sharpen, but requires more maintenance. ALL steels are quality, depending on the purpose and heat treat. Good luck!
I like high carb, diff HT stuff cuz u get a cool temper line, and it performs great! 
