I've also had that axe for ten years or so. For that size, I like the Gransfors Bruks Scandinavian Forest Axe better. However, the Estwing is still an OK axe for the money. I just took a five week trip to Alaska and it spent 4 weeks rafting in whitewater and rainy weather. It rusted a lot less than the GB would have. More importantly, I was able to let my friends use it without concern about whether they would ruin it. It seems to be somewhat softer steel and easier to work out knicks/chips. If someone were to smack a GB on a rock, I think it would be more of a problem. It would certainly make me a lot madder!
One note of caution on the Estwing: If you get it stuck in a log when splitting or chopping, be careful how you extract it. Although the steel shaft may be harder to break than wood, I was able to bend mine. I bent it mostly back into line, but it isn't completely true.