As a wood carver for over 20 years now, I read your post and want to help out if I can. I have had the opportunity to use many different tools, of all kinds of construction, for making little pieces of wood out of big pieces of wood.
Here are a few things to consider:
-Comfort: The tool should feel good in your hand and "fit" you. Different shapes lend themselves to different hands. I have small hands, but big fingers. I need a bigger handle to keep my grip and get good purchase on the tool. Try out lots of styles for that "fit." You will know it when you feel it.
-Bleeesters and knuckle busters: Watch for protrusions from the tool that will rub parts of your hands or fingers. These will develop blisters if you do any significant whittling. Things like shields and pins that stick out or are not quite fit right will become you enemy. You won't even realize it, but you will fall out of love with a knife you carve with because of some little thing that makes your hand sore. Look for these things beforehand. Knuckle busters are blades and handles that put your fingers too close to the work. You catch a knuckle on something, you will not be happy. Look for how far away from the work the blades put you so this doesn't happen.
-Sharpness and retaining an edge: Alot of carvers like tool steel for their blades in a carving knife. Tool steel is great if you can sharpen it successfully and then keep it sharp with constant stropping. If you have difficulty sharpening a knife (most people have a tough time but are afraid to admit it) then look for a softer steel so you can gain some experience in making that knife sharp and keeping it that way. There is nothing more dangerous than a tool that is not properly sharpened. It will ruin your whittling experience if you have a terrific tool steel like D-2 but can't carve with it because you need to practice sharpening.
-Carbon v stainless: Lots of people like the carbon steels for carving. I am one of them. However, if you buy a folder, then your tool and it's blades are being exposed to all kinds of environments. Stainless is good for a folding carver. D-2 is good because it is stain "resistant." If you carve with pine or other conifer, the pitch in the wood will rust the knife and the perspiration from your palm will expose the rest of the blades to rust if they are not stainless. It's a trade-off. If you are willing to keep your slippy clean and dry, get a carbon steel or tool steel. If you want more flexibility without the worry, get stainless.
-Type of carving or whittling: different knives will do different things. A wharncliff blade is a great blade for overall work. An upswept blade can be extremely useful. It depends on what you want to carve. Most will find a wharncliff the best general use for most carving. But if you get into different things, then get different blades. Don't ask a hammer to do the work of your power-saw.
Typical damage to a knife that is used alot for carving or whittling is:
-Tips: The tips are the most vulnerable part of the knife. People tend to want to "twist" the knife to dig out an area. Remember that the tip is fragile on a wharncliff blade. To prevent tip breakage, keep the tool very very sharp and remember that a knife is a cutting tool, not a drill or a shovel. Cut the wood away and you will make your tips last longer
-Blade Play: Most production knives or knives that have not been specifically designed for whittling are prone to coming apart at the forward pin. If you get a knife that is pinned in the front, then keep the knife very very sharp and don't use the tool to do anything but cut. Drilling, digging and twisting are all going to increase blade play in a regular slippy. If you remember to "cut" you will minimize damage to the knife.
For show or for work? If you are buying a knife to can afford to have it look good and have something to show off. If you are buying a tool, then that tool should be made for it's intended use and should be all the things listed above. Unless you buy a custom knife, you rarely get both a tool and a showpiece. Careful of looking for specific patterns. The best approach is to decide what it is you want the knife to do, and then go out and look for that. Don't buy something because it looks pretty. And don't buy something that's too utilitarian either. Just know what you want and keep putting things in your hands until you find a "fit."
Misc Stuff: A locking mechanism for the blade is helpful for some people. Keeps the blade from getting stuck in the wood and folding in on your finger. Some people prefer a single blade carving knife (I am one of those) because the other blade tends to make for blisters on your middle, fourth and pinky fingers. Bone handles, or other natural handles, are better for perspiration. Bone will 'breathe' and help keep the tool from being slippery. Things like delrin and plastic can be slippery little suckers after a while. And last, don't carve pine or other conifers if it is your first time. They have some characteristics that make them more difficult to use as a carving wood. Try basswood, or butternut. Both are excellent carving woods and readily available. Also try carving tree bark. Very nice medium which holds detail surprisingly well. Cottonwood bark is the bees knees if you can get it.
That's all I have to offer right now. I will try to dig up some photos of different things and post them. I don't advocate any particular knife or brand because you have to consider all the things written above, and make your own choice based on you.
I just hope these comments help a little. Have to admit, it sure feels good to share some of this information. I love to see people do well and get the things they want. The feel of steel making its way through wood is one with no equal. I think it's in our genetic code!! So, if any of this ranting helps you with your carving, even in some small way, it really makes my day!
Good luck!
Keep Care,
Pappy