The Ti coating is supposed to have an RC much higher than 64 - more like 82-84, IIRC. The point is to have an extremely hard edge that resists abrasion much better than the underlying steel, without the brittleness. That's why it's used on drill bits, and Buck has used it on their blades for quite a while. Applied to blades, Ti is a great at resisting abrasion and corrosion, even if the edge may be left unprotected.
My experience with the cheap import bits shows it works well - better than the expensive ones I bought from a shop vendor - because the working edge of the point handles abuse so much better. They stay sharp much longer. Conversely, the process used to apply the Ti hasn't been described as optimum for heat treat - I'd love to hear Paul Bos discuss the in's and outs.
As for "Titanium" branded products, it sounds like the hype is working. I see stuff with "titanium" plastered on the label, and that's the total content in the product: ink on a label. Let the buyer beware.