IMO, magnums are hit and miss, as per the price, and are pretty much a name brand version of a nice gas station knife. I have 2, both are OK, my "Ironworker" I actually really like for a beater knife.
They're essentially mass produced catelogs knives, meaning the factory churns them out en masse and stamps different brand names on the blade, puts 'em in different boxes, and voilà (not unlike a pillow factory I used to work in years ago, 10k pillows down the same line, first 4k got a k-mart tag, next 4k got a Walmart tag, last 2k got a designer Macy's tag, all the exact same pillow off the exact same line).
Their 440a (equal to chinese 7cr17mov but without the nickel) isnt the worst knife steel, but far from the best, but it takes a really sharp razors edge, just doesn't hold it all that long (daily stropping recommended). if you get a good batch it will perform not much different then a standard Buck knife Steel will, the difference being you will rarely if ever get a bad heat treat on a Buck, whereas on a Magnum, you're chances are much higher on a potential dud.
You could do better, for a little bit more money especially, (kershaw, byrd, crkt, Buck, Böker Plus), but you could also do equal or worse at that price range as well, (low end Schrades, S&W's, and Gerbers, low-low end Kershaws, (all using 7cr, 5cr, or even 3cr Chinese Steel that won't hold an edge either due to low carbon content), but really everything at that price point can be hit or miss, and it beats a no name knife from the flea market, so if you really like the knife, and that's all you have to spend, buy it... If you want a beater knife or something you can practice sharpening, buy it... If you want something a bit better, or if you're looking for a "good" knife, spend a little more on a better knife.