O. K. i just use one blade of a kind i talk of. But i use a D2, that was hardened at about 1070°C and tempered at 500°C.
I really do like this blade. I don´t know how tough it is. By a stock of .15" it is more stiff and i seldom abuse knifes. But it wears very little, has not the carbide chips as i saw it on normal treated D2 by BM. It takes a nice fine edge and holds it for long.
It is hardened to 59HRC. If this is meant by low, o.k.
Kuenzli, a swiss knifemaker offers D2 at 57HRC for outdoor knifes. After all, that profs told me, i would stay away from this, because i think you get a similar tough blade with higher hardness and finer grain, going a different way of ht.
But, your definatly right, it all depends an the quality of material, means how good it was produced in the beginnig. If those primary carbides grow too much, many say, you can do nearly nothing to get it right.
Again, what i have seen: For general use 154CM might be the better choice (actually i enjoy it. It´s easy to maintain, a steeling and stropping a week, since three weeks, very sharp), for a more specialized use or use in dirty enviroment(?) D2 might be the steel of choice.