I've got one, its a lefty. Good carving knife for the stuff I do. The steel is the same stuff that's in the other Flexcut carving tools.
This is high carbon non-stainless steel. The slipstrop and gold compound works well for me. You need to strop ever so often while you're carving, depending on the wood you use. I carve basswood and butternut and find that about the time I'm ready to take a break, it's time to strop.
Just remember that this steel isn't any super steel, you must maintain a razor edge when you work with it.
One word of caution about the Carvin Jack;
It ain't no state of the art folder that walks and talks, etc.
It has both verticle and horizontal blade play due to the lack of close tolerances in the blade locks and the blade pivot mounting design.
It is, however a good carving kit that fits in your pocket.
Word of caution;
When opening the various tools, the others want to come out as well. Make sure that you check and close the unused tools before beginning work, or you will get nicked by the partially opened blades.
Good luck,
Thomas