S110V is a super premium, very high wear stainless that was not able to be made until the new powder steel method was developed. It is a stainless counterpart to the A11 class of very high wear steel. When done properly it is about as wear resistant as a stainless steel can be with the exception of one or maybe two others that are not really going to be seen in very many production or even custom knives.
It's toughness will not be up with shock steels certainly but can be up with, or tougher than older ingot stainless notables like 440C.
In other words if made and heat treated properly it's great stuff. I have a Phil Wilson custom in S110V and it doesn't get any better that I'm aware of.