This is a late answer, but hopefully helpful for people that still like to know the answer.VG10
STRENGTHS:
- Holds an edge very well in normal use (cutting by friction only in soft materials will require resharpening after a very very long time)
- Better corrosion resistance than many other stainless steels (also better than 12C27 in this regards)
- Easy to sharpen with a diamonded stone (not as easy as 12C27, but easier than most stainless steels). Can easily achieve a shaving sharp edge.
WEAKNESSES:
- One of the most brittle steels. Even if the blade is in a laminated structure (eg:Fallkniven), the edge will still chip like glass at the first impact with a hard surface. This makes it not suitable at all for heavy chopping (considering very often dead wood contains intrusions of sand or nodes) or hard uses.
- Not impressive for lateral strength. If it's not laminated, a VG10 blade will have its tip or blade easily breakable. If it's laminated, it will most probably bent easier than most other steels in a blade of the same dimensions and geometry.
12C27
STRENGTHS:
- The most durable of all stainless steels I have ever used and one of the most durable steels in general. Able to stand out to a huge amount of stress and abuse without major damage. One of the best options for camping and heavy use. Under impacts (doesn't matter how heavy), it tends to plastically deform rather than chip (which is desirable in any circumstance). If the edge is sharpened to a thin edge it will deform under pressure (this is normal), but if the angle of the edge is about 25 degrees, it will hold to abuse better than any other stainless steel in the same context.
- The easiest to resharpen from all stainless steels I have ever used. Can easily achieve a shaving sharp edge with a diamond stone.
- Holds an edge decently in normal use (cutting by friction only in soft materials will require resharpening much sooner than VG10, but not very soon)
- Decent corrosion resistance (not as good as VG10, but it's still a stainless steel; if you don't expose it to vinegar or salt water, you should not have any rust issue with it). Even it starts rusting pretty easy when exposed to corrosive substances, the stain doesn't pit deep into the steel like it happens with most other steels, but it covers the shallow surface and is easy to remove (by sanding).
WEAKNESSES:
- Although not really a weakness, the wear resistance (edge holding in normal use) is not near the top. Compared with today's supersteels, 12C27 cannot get even close to them in this regards.
REFERENCES:
I have used VG10 in knives from Fallkniven (59HRC hadness) and Syderco (57HRC hardness) and 12C27 in Mora knives (57-58HRC with cryogenic heat treatment). Thus, my experience expressed above comes solely from the use of the mentioned knives. Bark River uses (as far as I know) A2 tool steel - which is supposed to be close to VG10 in normal use edge holding, but far less brittle, although not a stainless. I have never used a Bark River knife, so this is just a supposition based on the properties of the steel.
And - yes - there are also many other good steels that you could look for, although these are two of the best in the stainless area.