Steelwolf,
I'm not that surprised by your account. San Mai Japan and what looks like a water mark 1/3 inch in from the edge should be seen. The steel is a sandwitch of softer outer with a harder core. This style of blade is an urban survival blade: American tanto. It gained quite a following as a back up weapon for body guards as it has one tough point, sharp blade, can pry and looks intimidating. You can break the point if you try hard enough (same goes for anything). It was "the" knife you bought after you had purchased your Sig 226/228 handgun.
I used mine full time for about four years. It works well as an urban blade. However, I do remember having to sharpen it quite often as it wasn't that difficult to take the keenest of edges off. Cutting meat and vedge: it did struggle as the thickness of grind and tanto design works against it. The chopping problem I've mentioned. In truth I retired it as it didn't work that well as a utilitarian blade. Funny, at the time I had a Spyderco which ended up doing more work, better. About this time I switched to a CR Project and never looked back for a full sized belt knife.
I now rely more and more on folders and its my pen knife that still does more than anything else.
The Cold Steel Master Tanto is a classic: "The Amercan Tanto" and has its place. It is a specialised tool; an uban survival knife. Which translates: most people don't need one and if you do get one don't expect the earth at anything other than what it was designed for.
Times have moved on. How good a new CS tanto is today I don't know. Mine has paid its way a few times now.