For me, the Henkels (I have 4 star) or other German style knives are useful in the larger chef's models if one wants a heavier large knife for chopping and mincing. The Henkels have less rocker than some of the the other German brands, which can be a disadvantage.
For other tasks, I think that one can find lighter, thinner, stronger knives for the same or less money. The German knives seem to be on the heavy, soft side. I would be cautious about buying Henkels for tasks which require a flexible blade, like a filet knife.
Unlike some of their competitors, like Wustof, the Henkels (at least my 40-star) seem to be sintered, not forged. After some years the sinter line is visible about 1/4 inch ahead of the bolster running from edge to spine. The tang and bolster (as well as the very last part of the blade) are noticeably softer. IMO this is a poor substitute for diferential tempering or hardening. The area just ahead of the bolster has a tendancy to develop a hook with steeling over time anyway, being softer, and next to an overly massive bolster that extends all the way to the edge exacerbates this. I've had to do some serious filing and coarse honing to restore full rocker to the edge of my chef's knives. Having to grind or file down a bolster this big is ridiculous.
My Henkles are somewhat brittle also, at least in the thinner models. Broke about 3/8 of the tip of the slicer off when I got bumped while steeling it.
I've also broken one the "mini-santoku" (think that's what they call it, its a thin little sheep's foot) while stropping--right at the sinter line.
IMO, they are an OK, but somewhat overpriced product. In general, I think that is better to accumulate knives from various manufacturers that seem best suited to a particular task instead of getting a big set from a single manufacturer. You can find out what features suit you best for various types of knives, what knives you use enough to buy the very best, etc. May not be as spiffy for kitchen deocor, but in the end, the performance should be better fot the same or less money.
The knife I now use the most is a thin light 10" SS chef's blade with rat-tail tang I bought from Williams and Sonoma over 20 years ago. Just says "hand-forged in France". Takes and keeps a much finer acute edge, and is still soft enought for easy sharpening. It comes very close to a Japanese vegetable knive I have. I can easily go from a very toothy edge to a polished edge or back with a couple passes on a ceramic stick or loaded strop. I mainly use the heavy Henkels when I want to finely chop up a bunch of stuff and I don't care if it gets a little mashed or not (or want it mashed, like garlic). Also when cutting things like winter squash with strong skins.
I actually find that a wood handled, carbon-steel Ericson Mora knife that whose grind I convexed edge and whose bolster and handle I sealed to be a much better peeling knive than the Henkels parer. It just gets much sharper. The Ericson won't slice hard veggies without breaking them because it is pretty thick, but for that I use the old no-name chef's knife alrady described. Most of the time, these two knives work better for me than any of the Henkels.
My two cents, sorry for ramble.