Congradulations. You win the fuzzy dice award for understatement of the year, so far. Its just May.
Bubblewhip,
You're not quite correct, except in a certain sense. Cr does not significantly make hardened steel harder, i.e. stainless steels are harder than carbon steels. It allows thicker sections to reach full hardness all the way through. Cr and many other elements allow higher hardness to be retained at a given tempering temperature, so in that sense you are correct, but the hardness comes from the (free) carbon content, not directly from Cr.
To the OP, there are essentially 2 issues here. First, you have a point about the over emphasis on alloys used in knives. 1095 and 12C27 will satisfy all but the most demanding users of knives. Both are relatively simple carbon/stainless alloys respectively. However, the newer steels offer improved performance over these, and for some people it is worth the cash. The improved performance is due to the alloying elements added.
The second issue is the derrogatory attitude towards the steel industry. It's not as though the knife companies just accept the steel industries word that CPM steels are better. They do their own testing whenever they decide to switch steels. Some even publish it for our reading/review. Buck comes to mind here. The same goes for every other industry. Your somewhat cynical attitude is mirrored by industry. They do a lot of their own testing before switching to a new steel. They don't just take Crucible, Buehler, ThyssenKrupp, Carpenter, Sandvik, etc.'s words for it. All of these companies, and some I forgot, have developed their own versions of the CPM process, because their customers find benefit and ask for it, and are willing to pay for it, providing the motive for the development of new alloys that the steel companies make a profit supplying. There is hype in the knife industry, and I suppose there is hype in other industries. The people making the product know what material will accomplish their goals; whether or not they make the sales people aware of it is another matter and frequently the source of some exageration, sometimes moving into hype.
Part of the above issue is the presence of some incorrect statements and mis-stated information about how and why steel does what it does. There aren't that many, but enough that it subtracts from your credibility when you talk about the steel industry pushing alloys and their properties.
On another note, its a shame Alvin doesn't seem to be active in the knife community any more. His 1095 at 66 HRc, O1 at 63.5 HRc, M2 at 65 HRc and 8670M at 63 - 64 HRc blades are almost mythical. His source for M2 was tested and found in the 64.5 to 66 HRc range, and his source was the source for Sodak and my power hacksaw blades. I can attest to their toughness and edge holding abilities at these high hardnesses, and the emergence of CPM M4 steel in the cutting competitions is a testament to what the CPM process, alloy content, proper heat treating, and geometry can accomplish. BTW, there is more than one way to get M2 up to 65 HRc. The way you mention above is not the way its done for the hacksaw blades. Heat treating them is not easier because of the alloy content, and the alloy content is directly responsible for their increased performance. I will concede that the M2 and M4 alloys are relatively old and not new supersteels. However, the CPM process has been recently applied to one of them.