I'd be interested in whether CPM 154 has any added vanadium, but my understanding is that CPM 154 is the same alloy as 154CM, which is what the company itself says.
The alloy is 154CM. CPM is just a powered version of the alloy 154. If someone tells you the knive steel is CPM 154CM, it is the powdered version. The CPM 154 name is just a shortened version of 154CM.
I don't get all the outrage. It seems clear to me.
"Crucible 154 CM is a modification of 440C martensitic stainless steel to which molybdenum has been added. 154 CM has better corrosion resistance, better wear resistance and better hot-hardness than 440C. For knife makers, it offers better edge retention than 440C. It also has higher attainable hardness and better through hardening characteristics than 440C."
http://www.matweb.com/search/datasheettext.aspx?matguid=959587b1d8e742ff828859efa8ab1e73
"
CPM 154 is CPM-manufactured version of Crucible’s
standard 154 CM. The CPM manufacturing process
produces a uniform distribution of the carbides in this grade,
giving this CPM 154 easier grinding and polishing, plus
better toughness, than conventional 154 CM, while retaining
similar heat treat response and wear properties. CPM 154
offers better corrosion resistance, better wear resistance and
better hot-hardness than 440C, plus higher toughness. For
knifemakers, it offers better edge retention and chipping
resistance than 440C"
http://www.crucible.com/PDFs\DataSheets2010\Datasheet CPM 154 CMv12010.pdf
"CPM™ 154
- Crucible Particle Metallurgy version of 154CM. Significantly better then it's predecessor. Purer steel, with finer carbides. Elemental makeup is identical to 154CM, however,
rumors are CPM154 contains small amounts of Vanadium, thus being more wear resistant, however Crucible representative stated Vanadium in the alloy is residual, not intentional."
http://zknives.com/knives/kitchen/misc/articles/kkchoser/kksteelp2.shtml