I think that CS does in fact run it's VG-1 hard in it's San Mai blades. At least I have never heard anyone complain about the current San Mai offerings, but that doesn't mean much.
I have a fairly hefty collection of CS knives and I have found them to be perfectly serviceable for my applications. In fact, when I spend money on a CS knife, I know that I'll get my money's worth out of it and more. Their AUS-8 is as good as AUS-8 gets and their VG-1 is perfectly acceptable to me as a hard use steel. Now, I don't do silly things like cutting cardboard with my pocket knives, which is what a use specific box cutter is for, neither do I cut Manilla rope and sandpaper. If I was going to perform such activities, I would grab my S90V Military and have at her. No, my uses are fairly pedestrian, such as around camp for cooking, carving out the occasional spoon from Holly, trimming the occasional shrub and things of a related nature. The ability to quickly strop a knife back to a shaving edge, is far more important to me than a thousand cuts of sisal. The reality is that I could shop for all my needs at the Cold Steel 'watering hole' and never feel wanting. In fact, around the house, a Kudu in Krupp 4116 is one of my most used knives. I have never broken one, but if I did, I am fairly sure that I could come up with seven bucks to replace it.
A favorite pass-time on the boards is a good pissing contest about steel. Such are interesting contests to watch, but there can never be a winner, as each person's usage and applications of steel, blade shape, edge profiles, et al, must in the end be
subjective. Does the knife, blade and steel work for
them? Where people are concerned, the answers can be fuzzy: yes, no and maybe, not absolutes. This doesn't mean that I am not interested in Jim's (Ankerson) testing, or Jack's (Yablanowitz) anecdotes about the latest 'super steel' he sent crying home to mama. Far from it. These guys bring valuable lessons to us that we don't have to pay for out of pocket and I appreciate their work.
Back to Cold Steel.
I have found their products for the most part to be a good value, well made and they do actually deliver what their sometimes 'off the wall' advertising suggests. Many will disagree and that is just fine. AUS-8 and VG-1? I like them just fine. I also like Buck's 420HC (with a tip of the hat to my knife brother Confederate) and Kershaw's 440A, which keeps a sharp edge for a surprising length of time. Perhaps if I had one wish, I would like to see CS do a San Mai using M390, but I know that I wouldn't like the price.