Cliff,
I don't think it is fair to compare talonite and stellite (maybe dendridic cobalt too) with 420J2 because of their Rockwell ratings. Of course, it is the extremely hard and very anbundant carbides (vanadium, etc) in talonite that does the cutting. Though a talonite and a 420J2 blade may have the same rockwell raitings, the talonite will stomp on the 420J2 with respect to cutting. In fact, the talonite will stomp on many "good" knife steels too!
Bottom line for me with 420J2 is that no one does get it hard enough for it to perform adequately. I believe that you cannot even get it decently hard, because of the low amount of carbon. I may be wrong about that, but so far I have never seen a decently hard 420J2 blade. For a cutting knife, I won't consider 420J2. For a chopping knife, I'd probably still go with something else, as I'd use a chopper as a cutter too (khukuri, hatchet, etc. all make good licers too!)