If you had unlimited funds, you would do plenty of research to find a material that had the following qualities:
It has to be hard enough that you can cut (slice or chop) through practically anything without any edge damage or wear.
It has to be able to take a fine edge that slices smoothly and cleanly, yet the fine edge must not be damaged if the blade is employed for chopping.
It has to have strength enough that it will not shatter if struck or bent the wrong way.
It has to polish up really nicely, or exhibit a beautiful pattern, whichever your preference.
Note that if the edge never wears or gets damaged, we can dispense with the requirement that it can be re-sharpened easily. And since we have unlimited funds, the price of the finished knife is no object.
Since no one really has unlimited funds, such material has yet to be discovered. The steels used in modern knives are a balanced compromise of hardness, strength, looks and price to suit the application.
For pocket knives, I prefer VG-10 or Talonite. They hold a fine edge and slice well, sort of like a surgeon's scapel. Haven't tried M2 yet, so can't comment. Wasn't too pleased with my D2 Sifu, but I'm planning to get a Camillus EDC in D2 to compare. ATS-34, ATS-55 and CPM-154 are all more than adequate, but don't seem to take as fine a slicing edge as VG-10. CPM440V appears to take a rougher edge suited to rough cutting. Great for going through steaks.
I don't have many of the larger knives that might see chopping duties, so it isn't fair for me to comment in this area. However, I am pleased with my Busse, which uses Infi, and my HI Ang Khola which uses the spring steel from a Mercedes bus. Kind of at the extremes of the spectrum there.
