I don't really have a problem with VG-10, but it's not my favorite either. Most of my knives are either Benchmade or Spyderco (been picking up WAY more Spyderco's lately) and I prefer the 154CM blades on my BM's to the VG-10 bladed Spyderco's. For me and my limited sharpening skills I think both steels are about the same in difficulty of sharpening but I feel the 154CM blades hold the edge a little better. I don't think I can tell that one gets much sharper than the other, as I said I'm not an expert at sharpening so when they will shave arm hair I'm happy with the edge. I've only had VG-10 chip out on me once and it may have been my fault, I'm not a 100% sure. I used my Delica 4 to open the thick boxes that my new washer and drier came in, I followed the directions on the boxes for cutting completely around the base so as to be able to lift the box straight up and over the machines. Where I made my cuts they were sitting on a wooden pallet, I didn't see any nails or staples that I made contact with but like I said I'm not a 100% sure so I'm not going to bad mouth the steel for something that may have been my fault. Also the chips were very small and it only took about three sharpenings on the sharpmaker with the fine rods only to get them all out. I didn't mind them being in the edge because one I USE my Delica 4 so it doesn't have to have a perfect edge and two it wasn't effecting the cutting performance of the knife as far as I could tell for what I was using it to cut. Never had any rust problems with VG-10.
Now on a different occasion I was working and was using a rotary tool with a VERY rough grit sandpaper barrel that was old and pretty worn out and had been on the tool for some time. I needed to change it out in order to complete the job and I couldn't get it to come off. I mean I tried everything, screw drivers, pliers, WD-40 and it still wasn't moving. The ONLY cutting tool of any kind I had was my Delica 4 so out it came and cut through the barrel so I could finish the job. Needless to say it BADLY damaged the edge so I had to sharpen a lot of metal away on some diamond stones in order to get it back sharp. Now my problem is the point sticks out of the handle just a little when it's closed. I know all I really needed to do was grind some metal off the base off the blade but I figured I'd be better off letting Spyderco take it completely apart to do that so I sent it in to them.
I don't expect them to replace the knife or the blade because the damage done was completely my fault and I stated so in the inclosed note I sent with my knife. I just want to be able to carry and use it again because as it sits now in my pocket when I put my hand in the tip cuts me a little so hopefully they can fix it up for me but even if they don't it's no big deal because I can myself when I get it back. Just sent it in first so as to not void my warranty. Sorry I went on so long just wanted to get my experiences with the steel out there. I guess thinking back on it now VG-10 isn't bad at all IMHO.