SALTY,
regarding Cold Steel switching to Carpenter CTS-BD1 from the previous Japanese AUS-8A:
Cold Steel has been moving their Japanese production to Taiwan for several years now.
(Most likely this is because of economic factors too numerous to get into here.)
This is probably why they switched steels too.
However, Carpenter CTS-BD1
is not a powered-process steel. If it was, it would be more expensive than it is.
(It isn't listed as such in the Carpenter Steels web page link listed below.)
So far, in my experience, Carpenter CTS-BD1 has slightly better edge-holding than AUS-8A.
Where it really preforms better is in the corrosion-resistance.
I have had almost every steel get some rust spots from front-pocket carry during hot summer days. Even high-chromium-content, powered-process ones.
I have had a Spyderco Lightweight Manix 2 for a couple of years now and it hasn't rusted at all on me yet. It doesn't take as fine an edge as AUS-8A will though.
I recently picked up a Cold Steel Voyager in Carpenter CTS-BD1. It came with a very sharp edge compared to the previous AUS-8A version did. I haven't carried it enough to see how the edge-holding will be though.
Here is a link to a Carpenter Steels Website:
http://www.cartech.com/techarticles.aspx?id=3940