My response will be cryptic and general, though that is an accurate reflection of my knowledge of the subject!
The Japanese blades are, were, and always will be incredible. The Japanese knew how to combine function and aesthetics in one kick butt package. The complexity of these swords (folded steels, using different steels for the core, the edge, the sides, and even the back sometimes), water quenching, the intricacies of the handles (tsuka)... it really is incredible. And the ebst part is that the Japanese were meticulous record keepers, so information about usage is easy to find.
As far as comparisons with modern "japanese" or "Japanese styled" blades go... well... that is hard to make, because it depends on what you are comparing. Lots of information can be found at the sword forum here, or at
www.swordforum.com
What one has to remember with Japanese smiths, though, is that they did the ebst they could with the materials, knowledge, and techniques they had. Howard Clark makes swords out of L6 now, and these end up with a crystaline structure called bainite. These swords don't feel like traditional swords, but they sure can take more abuse. Also, many making japanese styled swords today start with "mono-steel". The Japanese folded their steel to even out the carbon/reduce the carbon. We don't need to do that with steels today, so the folding is, for a large part, purely cosmetic. THe folding may ad flexibility or strength or something like that, but I am not sure. I still think that with using mono-steel, the benefits are cosmetic (which is a fine reason for doing things, as long as it doesn't hurt the function.)
Also, Japanese swords were rarely tempered. I read that Masamune's blades performed so well because he actually discovered tempering, but most smiths in Japan didn't temper (I think some do now.) I believe most non-Japanese doing the Japanese style are tempering their swords, and this has made the swords.. oh, what is the word... better able to survive nasty things that can happen to swords. Also, when using modern steel and other modern materials, you need to use more modern techniques. So, a blade made of the 1086 mod steel from Howard Clark will require a combination of traditional and modern methods to polish it.
I hate do carve things up like this, but I kind-of see the "sword world" as 3 worlds. There are those doing things very traditionally, which seems to be the largest "voice" in swords. There are thos eusing modern materials and techniques, but trying to end up with as traditional a package as possible. And then there are those who borrow from the past, but try to make their blades as modern as possible. Jerry Hossom is a good example of a swordmaker in the last category. he'll look at a bolo and get input abotu it's use, adn then take S30-V and micarta and go to town! The resulting sword may "appear" little like a "real" bolo, but the principles and features are still there, but you get all of the advantages of modern materials and methods.
I think there is room for all three worlds, and that most of the bad arguing you get in the sword world is from members of the differing groups fighting about what the other is doing.
Enjoy all swords, as that si what I do!
