It is better for more than one reason. It is easier to work because it comes spheroidized annealed. It is as soft as possible. It is easy to drill. It is easy to saw, and easy to file. It will hold a better edge than the 10xx series steels. As stated, to get the best out of it, it requires a little more in the heat-treat, but even a simple heat treat will give you better edge holding than the simple steels, in my experience. The main con is the price, but for a great blade, and time and effort saved, I find it well worth the money. I made quite a few knives of 01 using a simple heat treat, before I got my oven, and all did very well, and I got a lot of praise for their edge holding ability from my customers. None have reported any problems.