The Damascus will perform very well, it's just a combination of two steels that are twisted and folded together. Steve uses good steel for his stuff so it's not an issue to use it. The finish is made by etching it in something like ferric chloride or some other acid or it'd look pretty much like any other steel. The acid eats the two different steels at different rates so the pattern emerges, the longer it's in the acid the darker it gets. As it's used it'll eventually wear the dark off of it but to most of us that just adds character. It can be easily refinished by a quick dip( you can pick up the ferric chloride at radio shack ).
I've read once here in a thread that the 2hawks are made a different way and that they're not as durable but that was right after the current gentleman took over the shop, I've heard nothing but good things since. I think they make theirs by pouring the molten metal into a form instead of hammer forging it. Some say that's less durable but I don't think most people would ever be able to tell even if it was. I'll be getting a 2hawks long hunter eventually because I like the way that they look and want to try it out- they're beautiful hawks and I don't think that they'd have their great reputation if they weren't worth the money.