BG-42 would be used probably as much as S30V is used now, if S30V was never created. I think a lot of company's either passed on BG-42 (heat treating it is a lengthy process) or switched to S30V when it came out in 2002, and I think that's a real shame...it's one of the most refined stainless steals currently available for cutlery, IMHO.
I've been EDC'ing my BG-42 Military since I received it and I have nothing but great things to say about it. IIRC, it's hardened to 61 RC and I haven't experienced any chipping on mine. It's takes a superfine edge at 30 degrees inclusive and holds it for a long time. Touching up the steel is no problem...very easy on the corners of the Sharpmaker white stones. For a higher end folding knife, I'll take BG-42 over S30V or any other 'premium' stainless, any day.
As stated elsewhere, this carbon fiber & BG-42 sprint run of the Military is a very refined design of the knife...very strong and well-built for such a thin profile. It's a real pleasure to use such a large knife that weighs so little, compared to other knives its size.