I don't quite get it I guess. So many other knife guys constantly tell me "I can't use anything other than S30V, what are you doing with that piece of crap that has 8Cr13MoV? What are the pros and cons? I say if I can sharpen it to a razors edge and get a solid use out of it why bother paying an extra $45 for a magical steel? Also I heard it's prone to cracking so...allsimsayin'.
It sounds like you are ready for Blade Materials 101. I'm not trying to be a smarta$$, but materials are probably what interests me most about knives, and not just the blades, but the handles, liners, and other components as well. Do a search to learn about toughness, edge retention (wear resistance), and corrosion resistance, and how an increase in one may be a trade-off for another.
alphaknifesupply.com is a great resource for learning all of this and has links to all of the data sheets for each blade steel. The following is from the Crucible CPM S30V data sheet:
"CPM S30V is a martensitic stainless steel designed to offer
the best combination of toughness, wear resistance and
corrosion resistance. Its chemistry has been specially
balanced to promote the formation of vanadium carbides
which are harder and more effective than chromium carbides
in providing wear resistance. CPM S30V offers substantial
improvement in toughness over other high hardness
steels such as 440C and D2, and its corrosion resistance
is equal to or better than 440C in various environments.
The CPM process produces very homogeneous, high
quality steel characterized by superior dimensional stability,
grindability, and toughness compared to steels produced
by conventional processes."
To better understand the importance of that last part, or rather the advantage of using a "powdered" steel, think about it this way. If you made part of a roadway or driveway with very large rocks and another with very small rocks, and then drove over it enough to tear it up, you would see the part with the much larger rocks tear up faster. Once one rock is broken out of the "large" rock section, you'd have a big hole in the driveway. Conversely, if you broke off rocks from the "small" rock section, you'd still have a much smoother driveway and it would not cause as much damage to what remained and would be easier to "fix", or in the sense of blade, sharpen back to a consistent edge along its length. So, with powder steels you get much smaller, more consistent sized carbides in the blade (the small rocks) that not only wear better but can be sharpened to a finer edge. Higher end steels often contain "better" carbides as well, such as vanadium replacing some of the chromium carbides, but that is tomorrow's lesson.
Clear as mud, right? Check out the data sheets. The introduction paragraphs can teach you a ton.