I wonder how 420HC stacks up to 12C27(425M)? Are they similar to 440A?
12C27 is the material being used in the OE Paragee, I believe. Two similar designs (I know, different shape, blade), by the same designer, being introduced by two different companies at the same time, and presumably with similar prices. Seems like they'll be in direct competition with each other, and maybe blade steel could be a deciding factor for some people.
Really, I don't think that most people use a knife as a heavy-duty tool, and if they do, they'll be spending more than fifty or sixty bucks, anyway. I think that, but I have always looked to more expensive, "better" steel for my own use. On the other hand, I've never given the cheaper steels a chance to see how they perform, so can't comment on them. I found Steve Harvey's comparison of the production and handmade ArcLites very interesting, and the average person may be very happy with the performance of 420HC.
I'd sworn that I was just going to buy a few customs this year, since I've got more production knives than I need, but will probably have to get all the Darrel Ralph collaborations to ease the pain of waiting for the "real ones" to get here. The 420V and 420HC will be a step up and down for me, respectively (most of my folders are ATS-34/154CM, and a couple in ATS-55 though the most recent was M2). It will be interesting to see just how big those steps are when it comes to actual use.