I've owned, carried, and used my Model 14 for over 30 years. It's the carbon steel blade. It got some minor rust pits, which Randall was able to polish out quite nicely. In 1981, I bought a stainless Model 14 since I often work in corrosive environments. That one went to Iraq with me, where it was used hard, and came through like a champ. It was used to open cardboard cartons, cut wire and some pretty serious hawsers at the port, clear some brush, and chop wood, among other things. It also probably saved my life one afternoon on a dirt road near Basrah.
My Randall diver's knife has also spent a lot of time with me on dives, and still looks and functions just fine.
The stainless blades are a little harder to sharpen than the tool steel ones. But you have nothing to worry about regarding the durability of these knives. I now own several, and never hesitate to take any of them to the field.