D2 has quite a bit more chromium than D2 or A2. This makes it much more corrosion resistant than the other two, but it's still not quite what the industry considers "stainless". You'll often see it called "semi-stainless".
M2 is a high-speed tool steel. Stuff like drill bits and lathe tools are often M2. It's a high-hardness, long wearing stel.
A2 is also a tool steel, but you're more likely to see it used on things that take stress or impacts.
Somebody with more knowledge in metalurgy could explain things better than I.
If I were to have a knife for chopping or prying, give me A2.
For a knife for slicing/cutting, M2 would get the nod.
In most cases though, either will get the job done and you'd probably not notice the difference. Unless every day you're out in the bush chopping branches and splitting firewood. But for a pocket knife, don't worry about it. I don't know of any company offhand that gives a choice between M2 and A2 anyway.
I have knives in both M2 (BM710HS) and A2 (Severtech). My Severtech is easier to sharpen, but the M2 holds an edge a bit longer. But the M2 is 60-62Rc, and the A2 is 59-60, so this observation is more likely due to the heat treat/hardness rather than the properties of the alloy itself.
A more appropriate comparison would be between M2 and D2, since Benchmade uses both (and you're looking at the 710HS). Again, the D2 will be more resistant to rust/staining. However, D2 is notoriously difficult (time consuming) to sharpen. The M2 will sharpen up a bit easier, but be easier to stain. M2 is easier to get a polished edge on, D2 has a rather large carbide matrix, so it'll be rougher/toothier. To be honest, I can't really say which holds an edge better, since both do it so well. I'd give the nod to M2 if only because I prefer the polished edge. I can get a pretty fine edge on D2, but with use (especially cardboard) it gets toothy on its own. Depending on your preference, you might like that, you might not.
BTW, Chris Reeve uses A2 in some of his fixed blades.