Butch Harner works with XHP quite a bit too, or at least he did for a while.
I've only made one blade with XHP, but I'm very impressed with it. The edge retention is very, very good @ 58Rc (which is quite low for a "high edge-retention" blade), and the high toughness
really surprised me.... really quite remarkable for a steel with so many chrome carbides. I did not have any particular trouble getting a good crisp fine edge on it. I think the main thing that makes it work so well is the high quality of the particle metallurgy involved.
It's really not appropriate to describe it as "stainless D2"
for knife applications, because it's much tougher and much finer-grained than D2... although the chemistry is quite different, in practice I find it very comparable to Elmax... more like a "stainless CPM-3V". I think the reason they describe it as D2 on 'roids is that it was originally designed for plastic injection molding dies, and apparently the materials involved can be quite corrosive.
Anyway, it's outstanding steel by all accounts. Whether or not you really notice a difference in edge acuity/fineness, toughness/resistance to chipping, edge-holding etc. between it and S35VN or CPM-154 and so on will depend to some extent on the blade design, how thin you grind it, and how fine you sharpen it. They all have very good corrosion-resistance; if you require very high toughness and thin edges, XHP and Elmax are the better choices.
For pure sharpness, say if you want to go up to 20,000+ grit waterstones on a 15-degree inclusive edge, I suspect you'd be better off with a low-carbide stain-resistant steel like AEB-L. But of course you won't get as much abrasion-resistance without the carbides.
All steels mentioned here definitely work very well; none is a slouch. For lack of a better analogy, we're into the territory of comparing 'Vettes to Vipers... not jalopies to racecars.
