Since this thread has been revived, the budget market has changed a lot. Yes, Buck's 420HC is better than your average 420HC. It might be the best 420HC most of us will ever experience. However, it's still 420HC. It's performance is going to be eclipsed by steels like 14C28N and 9Cr18Mov.
Coincidentally, WE has done for 9Cr18Mov what the Bos heat treatment did for Buck's 420HC. Already starting from a better place, WE's 9Cr18Mov in the Civivi and Sencut knives is capable of edge retention a lot closer to mass-production knives in S30V or S35VN.
While Buck offers other options, I feel like Leatherman is stuck in the past on this one. They have a couple of models that use either 154CM or S30V but most of their multi-tools still use a 420HC knife blade. That's a deal-breaker for me in $100ish multi-tools.