I've been EDCing a Pacific Salt for about 2 years now, and I can say, with out any hint of a doubt, that H1 is the real deal and is pretty much a must in any knife I now use with any regularity. Does Spyderco have a monopoly on the stuff? I imagine it must be something like that, because otherwise I can't understand why all the other manufacturers wouldn't be flocking to make awesome, low-maintaince knives. Maybe it's because without rust, customers won't want to buy knew ones? Anyway, H1 always remains spotless no matter if you leave orange juice drippings on it for a month or what have you, and only takes a couple minutes on a Sharpmaker to restore it to a an amputational level of sharpness. I use mine for slicing and chopping several times a week and only feel like I have to sharpen perhaps twice a month or so. You guys can keep your ZDP-harder-than-a-diamond steel that is imposible to resharpen and gets rust spots sitting in a drawer.
I don't have experience with serrated H1, but I understand that it is reported to keep its edge much longer than plain edge, but of course, good luck resharpening once that edge finally does go. I prefer PE, as I know I can always get them back to tip-top shape in a couple of minutes.