Truthfully I love my 0801, but that one doesn't do it for me. Too....plain. I also hate the way they did the blade stamp in the middle of the blade like that, the original looks so much better (in my personal point of view).
I've never used S110V, but is it THAT much better then Elmax?
S110V is one of those steels that in my opinion you need to know more about the HT before you really decide if it's good for you or not.
Generally, it will have superior edge retention to Elmax, to a very notable degree, and will have much greater wear resistance. On the flip side of it, the steel ends up much more prone to chipping, though it is still easy to take care of and normal use won't chip it extremelty easily (most stainless steels are much more prone to chipping than Elmax really, so its not much bellow the average).
It is excellent for holding an edge, outclassing even M390 and S90V, while still being relatively easy to sharpen (with experience and proper tools). It is still harder to sharpen than M390 in my experience, but much easier than S90V, and it will take a polished edge quite well. It also maintains very fine grain structure, though not as fine as M390.
Depending on how the HT is done, it can be a steel that holds an edge much longer than most, and with a proper treatment, it can maintain a good amount of toughness as well, making it a very good cutter.
It also maintains good corrosion resistance, and overall performs very well.
The downside of it, and the reason it is often so expensive, is because it is very difficult to machine. Not as hard as S90V, but we've seen before how much the change in steel of the BM 940 added to the cost. Carbon Fiber is not expensive enough to add that much cost at all, and I'm pretty sure on the 940-1 they added it partly to make the high cost due to machining look a little mor manageable than leaving the handles aluminum.
S110V ground by hand eats through belts insanely fast from what I've seen, and I know that using automated machines isn't much better.