Oh really? Here are just a very few of the many I have seen advertised for upwards of $200, with "400 series"-- so according to your own reckoning, less impressive then 440C. This is the "street price" by the way. Hmm?
http://www.bladehq.com/item--Lone-Wolf-Knives-Paul--3747
http://www.bladehq.com/item--Lone-Wolf-Knives-Paul--3711
They also have a bunch of 19C27 in the $275 price range:
http://www.bladehq.com/item--Lone-Wolf-Knives-Paul--3148
It just seems to me when there are a lot of pretty nice knives using these steels, and AUS8 and the like, at the $50-100 price point, it is hard to justify purchasing a knife with "400 series" steel, whatever that is, at $275.
Yes, these knifes have some very nice craftmanship and design (beautiful abalone, stone or wood handles), and maybe would not be considered hard-users, so the blade steel is less important. But I don't really believe that. Even if you are not going to beat on the knife, you are investing in something that you think is cool, both looks and materials. I don't need titanium handles in a Seb or a Strider-- there's cheaper stuff that really would be adequate, for my uses. That is not really the point.
Now, if you are saying that "400 series" steel is just as good, functionally as S30V, well then fine. Maybe S30V is a scam on all us knife collectors, including the experienced ones. By that reasoning, I tend to doubt that even 440C is really equivalent to S30V, or VG10, or certainly the powder steels. I could certainly be wrong. As I said, I'm no expert. I don't use knives enough to have beaten on enough different steel types to know from personal experience. But collectors also want to know about the materials they are acquiring. A coin collector is not going to spend that vintage gold dollar on anything. He/she acquired it because it's cool. But it sure better be gold. If you have more then a couple of knives, you left the "that guy shouldn't care about what material the blade is, because he won't even know the difference from usage..." argument behind long ago (this also applies to Ankerson's comment, quoted below).
I really like the looks of the Lone Wolf's, and would consider >$200 even with a less modern steel, but like I said in the original post, it is what has prevented me from buying one, at that price point up to now. Their >$400 models do seem to have "higher end" steels-- I see a lot of 154CM.
But let me ask you this: if 440C is so great, why use the 154CM in the more expensive models? If their heat treatment is so awesome, well, just heat treat the "400 series."
I'm sorry but we can't have our cake and eat it too, as they say. Either the new steels ARE better, and therefore worth more $, or Lone Wolf is mixing some less impressive materials into some pretty expensive models.
I am not saying this goes for all their models. As pointed out, they do have S30V models appropriately priced in their lineup.
See above.