Steels that are easy to sharpen have a fine grain structure and the minimum of oversized carbide lumps. If not moderated by special alloying or processing the chromium in stainless steel makes it much harder to sharpen than non-stainless. Things that can improve the grain structure of stainless steels include alloying with vanadium and elaborate heat treatment with cryo quenching. My experience is that adding molybdenum to alloys without adding vanadium makes them harder to sharpen.
Anyway, highly sharpenable alloys include: 1095 and 5160 (simple high carbon steels), O1, 50100B, and Cold Steel's Carbon V (high carbon steels with vanadium), A2 (a tool steel with moderate molybdenum and vanadium plus some chrome), Sandvik 12C27 (a high purity medium carbon stainless steel), AUS-8, AUS-10, VG-10 (high carbon stainless steels with moderate molybdenum plus vanadium).
I consider all the preceding to be easy to get razor sharp. A couple types that are a distinct notch harder to sharpen, but also a distinct notch tougher are the high vanadium super stainlesses BG42 (vacuum remelted) and 440V (powder metalurgy) alloys.
[This message has been edited by Jeff Clark (edited 16 November 1999).]