4" Blade/Supersteel??

[Wevil]

How about the ZT 0560 elmax, you can find them occasionally on the forums for around that price.

 

[Zookie]

Benchmade 710 in m390 or m4!

 

[Luis G.]

s35vn there is no better steel.

Elmax, ZDP 189, M390, CTS 204P, Rex 121, Super blue, S90V, list goes on.

Plenty of finer steel, they're just expensive.

$200, I would look for M390 from Benchmade, or Spyderco Sprint run (you need to be on the preorder to get them at a good price. Secondary market tends to inflate the price).
ZT 561/560 uses Elmax super steel, that can be had for around $200 or less if you look around.