The BladeForums.com 2024 Traditional Knife is ready to order! See this thread for details:
https://www.bladeforums.com/threads/bladeforums-2024-traditional-knife.2003187/
Price is $300 $250 ea (shipped within CONUS). If you live outside the US, I will contact you after your order for extra shipping charges.
Order here: https://www.bladeforums.com/help/2024-traditional/ - Order as many as you like, we have plenty.
I don't know about S690, but I edc a CPM-M4 blade and I've been using my K390 Mule in the kitchen and outdoors since I got it. I hope to do a review on it after I have a little more time with it.
For edge retention, neither steel really keeps that razor (hair-popping, tree-topping, etc) level of sharpness long, but both are great as far as usable, working edge retention goes. K390 completely outclasses M4 in this regard though. I use diamond abrasives, and going from 440C to 154CM to M4, I couldn't really tell a difference in sharpening, but bringing the angle down to 15dps on the Mule took about twice as long as it did on my M4 blade at similar hardness. I've noticed no loss of sharpness after a couple nights of prepping dinner and carving in the mean time.
As for toughness, M4 is tougher than most knife steels with this alloy level, and my M4 mini-Grip sharpens well with less burr formation than most steels I've tried (this is at ~63HRc), and it holds an edge without chipping for the most part. I've had small (as in grains of fine sand) chips cutting thicker plastic and after dinging the tip on some pavers, but this is to be expected and after sharpening through the factory edge there have been no more chips. From what I could put together on K390, (I couldn't find any Charpy C-notch data), it has roughly 25% more impact toughness than 10V, which puts it in S30V range, somewhat less than M4 but still tough enough that I would not worry about it. I've not really put my Mule to task yet, but after carving some cocobolo and dried bamboo, I've seen absolutely no edge damage.
In short, M4 is slightly tougher, and K390 is far more wear resistant. It is the first steel that I felt was truly a worthwhile upgrade from 154cm, s30v, etc., and just from initial testing, it seems much like M4 but with double the edge retention. They even took a forced vinegar patina the same way. I hope this helps!