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H-1 is and austenetic steel much closer to 300 series stainless steel. There might be some confusion with the different systems of definition from culture to culture...Take care...Ed
H-1 is a Japanese steel so the "H" designations for a USA steel would not correlate.
We've done extensive testing with H-1 for the past year plus. We were disappointd that Benchmade beat us to the market with H-1, but I have to give them credit for doing their homework. The steel is a break through in corrosion resistance. It is another "nitrogen added" steel like CPM-S30V, X15Tn and Infi. It is a precipitation hardening steel. Spyderco has at least one model (Delica) coming out this year made with H-1.
In "Q-Fog" testing, H-1 ranked with Cobalt based materials such as Talonite, Dendritic cobalt and stellite 6K. There was NO rust. Much better than even 440C.
Edge testing indicates cutting ability comparable to AUS-6 / AUS-8. Edge retention was not as good as Talontite or Dendritic Cobalt but was certainly acceptable for a good working knife. Cost is much less than Cobalt based materials.
I can't speak for Benchmade's design or sheath (wouldn't be proper), but I believe the design is based on Allen's and he is a very good designer.
sal