Great thread! There are a lot of good posts here. :thumbup:
I got my first Case with stainless steel blades (a medium stockman) a couple of weeks ago. So far, it's working out fine. The blades are easy to sharpen and get very sharp. The toughest things I cut with it are probably cardboard and sisal twine, and the edges have held up well.
The day before yesterday, I bought my first Buck 110. I can't comment much on its 420HC blade because I have so little experience with it, but I will say that it's easily one of the sharpest knives out-of-the-box that I've owned. It will be interesting to see how it stands up after some use.
Steel fashion is a weird phenomena. I remember in the mid '90s (when I first got into tactical knives), and up until a few years ago, ATS-34 was the big, popular blade steel. All the tactical companies and custom makers used ATS-34 in their top-of-the-line models. The magazines did a lot of articles about how fantastic the steel was. Plus, all of the ads made sure to mention that the knives they were selling used ATS-34. Basically, if your knife didn't have an ATS-34 blade, then it sucked.
Flash forward to a month ago. I saw a post that a guy made in the Blade Discussion forum where he asked if you would even consider buying a knife with an ATS-34 blade. Many companies have since switched to other steels, so now ATS-34 is seen by some as a crappy, outmoded blade steel. In the space of about five years, it went from being the ultimate cutlery steel to where people now question if it's even adequate.
There are some steels that I like more than others, and I'm sure some steels objectively perform better on certain tests than others, but following the fashion trends doesn't make much sense. Even though you have stuff like CPM steels and ZDP-189 now, ATS-34 is still very good, IMO. Low alloy carbon steels, which are even less fashionable, have always worked well for me too.