I'm not sure if it's that much better than 440C...it's just what I use. Everything I've been able to read says 154CM is tougher and (slightly) more flexible. Wayne Goddard's book says 154CM is a better edge holder when heat-treated properly. Most folks can't tell the difference. I was only saying that 154 is a great steel, but people seem to be poo-pooing it because of the new wonder steel, S30V. Most folks probably can't tell much difference between it and 440C, either, except for price. I like 440C, too. The only knock I've heard on it (and this is theoretical much more that practical) is the 440C has so much Chromium (17-18%) that it weakens the grain boundaries of the steel, making it much more liable to breaking. For 440C to be the great edge holder it can be, though, cryogenic treatment should definitely be part of the ht. Cryogenic treatment seems to affect 440C (improving it) more than any other steel I've read about.