VG10 is a former super steel that's become a classic for a reason. As others have stated: doesn't rust easily, sharpens well, behaves well in plain and serrated versions, etc. Spyderco seems to stay pretty much on the most cutting edge of steels, but they still offer several of their models in it.
I actually have it filling duties in three roles in three different knives:
My favorite kitchen knife, a rough and tumble beater, and the folder that stays tucked in my sweaty back pocket to to save my bacon should it be needed.