I think it's D2 that takes a toothy edge, and 420V that takes a fine one (according to DDR).
Anyway, I think that what you intend to use the knife for should decide.
My EDC is 420V, and I have thinned the edge down. I wonder if D2 might have been a better choice, since the knife sees some pretty rough use. On the other hand, I work in a pretty corrosive environment and have had zero problems with 420V (have only used it for about a month, though).
I chipped the edge -the day after I got it
- by accidently hitting the corner of a steel table while sectioning a box (didn't expect to slice the entire length in one cut, but zip!)-doesn't count, banging steel tables with the edge isn't normal use. I have also rolled the edge slightly, probably from hitting something imbedded in cardboard I was cutting. Couple of passes on a steel, and it was good to go.
I hear that D2M is tougher, but have no personal experience to draw from.
My reg and large Arclites will see plenty of hard use, I'm sure, and both will be in D2M (future tense-they're ordered, but it'll probably be awhile before I see them).
Looking forward to comparing them with 420V.