I have recently been talking to Marble's concerning their switch to the new steel. I was told that the current Smokey Mountain Knifeworks catalogue was the first to feature blades with the new steel. The first batch is to be laser etched and subsequent runs will be deep stamped to distinguish the new steel. They should be available netwide by June.
I have nothing but good things to say about my recent conversation with Marble's. I was assured that while the switch to the new steel was viewed mainly as a cost cutting measure by those who knew, the new steel is actually MORE expensive than the 52-100! Doesn't sound like some cheap stainless to me as originally thought. The main reason for the switch was for the purpose of broadening the appeal of their knives to a wider audience. I guess not all of their customers are die hard blade fanatics like ourselves

Increased resistance to corrosion and staining, while still maintaing a blade that was not a true stainless seemed to be their answer. I guess it could have been much worse than this. They were not however, at liberty to disclose the composition of the new steel to me just yet. Through the process of elimination, my best guess is that it may be either A-2 or perhaps D-2. Again, this is just one simple man's best guess. Just not a lot of steels out there with a carbon content higher than 52-100, possessing some stain resistance while not being classified as a true stainless. Also, they have listened to their customers complaining that the sheaths supplied with the old knives were not up to the standards set by their blades. New, higher quality sheaths are also to be part of the package.
Perhaps the best reassurance I got from talking with them is that they listened to what I had to say. It really was as if my opinion mattered. In fact, they seemed so confident in the the new steel's performance that they offered me a test mule to use and abuse as I see fit with the blade in return for my unbiased feedback and findings. As my current Plainsman is the model I prefer and have the most experience with, they agreed to send this model to me. Should be arriving next week. I initially plan to put the two knives through a side-by-side comparison cutting standard lengths of heavy cardboard, rope and wood to determine the differences between the two in terms of edge holding. I will also explore other areas such as sharpening ease, ultimate sharpness and stain/corrosion issues. It should prove to be valuable information. If anybody has any other ideas, just drop me a line. I will keep the forum updated as to my findings as well. Hopefully I will be able to keep the knife until this hunting season to see how it performs in it's intended role. Stay tuned.
My gut reaction to all of this is that Marble's may not be lying down to die after all. Just trying to stay alive in a very competitive business. After all, change is never really widely accepted at first, just look at CRK's switch from BG-42 to S30V. Even when improving their product they are subject to critism. Like CRK, time will tell if the change is for the better.