TIZWIN:
The correct heat treatment is everything! You can start out with the very best blade steel available, incorrectly heat treat it, and end up with garbage. A great example would be comparing CRK's S30V to Paul Bos's S30V. Although the Sebenza has the tightest working tolerances of any folding knife I have ever handled in my life, and is without a shadow of a doubt a tank, Buck's S30V with Paul Bos heat treatment will outperform CRK's S30V any day of the week. Keep in mind we are talking about just the blade steel here, not comparing a Sebenza to a 110.
If you have ever owned a CRK knife with S30V blade steel and have sharpened it many times, you will notice how much softer the underlying steel is when exposed through sharpening. You will NOT have this with Paul Bos S30V. Strider also uses S30V blade steel, which is also heat treated by Paul Bos.
Surely you can find a better made knife than a Buck; but you will not find a knife with better blade steel. I would put a Buck 110 with 420HC up against a CRK Sebenza with S30V any day of the week...in a real world test. Anybody can go by technical data sheets on steel manufacturers web sites, but what does that really prove? Nothing at all really, as they do NOT do the final heat treating...the knife manufacturer does this.