Welcome to the forums.
(I could be a little off on my dates since I am pulling this from memory)
The older buck knives prior to 1981 had 440C steel. They then switched to 425M until 1994 then they switched to 420HC. The older 440C blades came with a thick grind at the edge and needs to be reprofiled. It can take some time with a stone, but it can be done (I did this with my 103and 102). They are well worth the time it takes to get them right. The easiest way to tell if you have 440C or 424M is to look under the guard, if it is silver it will have 425M if micarta, it will be 440C.
You may get better answers in the buck subforum. They will be able to give you the best answers related to Buck knives. It can be located here
http://www.bladeforums.com/forums/forumdisplay.php/701-Buck-Knives