I have a slightly different take than others on this subject.
While I use Ti for liners/frame parts, I'm not convinced it's the best possible material for liners on a linerlock. It's nice that it's a natural spring, it's very strong for it's weight, but as mentioned above, it is soft. It is much less dense than steel, and much more malleable. I've never been too keen on the fact that the engagement portion of a liner is soft, malleable Ti interacting with a hardened steel blade lockface. That seems sub-optimum to me.
Some guys flame the end of the lockbar which will create a very hard surface on the Ti. Still, If the lock was the only consideration I would think 17-4 or 17-8 SS would be great for liners. It's precipitation hardening, encountering no dimensional changes in HT. Has great wear characteristics despite it's mediocre max hardness of about 47 RC, IIRC.
One of the greatest reasons to use Ti is that it is expected on better-quality knives. A stainless liner is what you find on the cheapest of cheap knives. Ti is a very "cool" material, is much more expensive, and its use is pretty much expected on better knives.