I have two Randalls, a 6" Sportsman's Bowie that I bought for $25 in 1961 at a store that dealt in new Randalls at that time and a Model 1 that I ordered directly from Randall in 1977 and received in 1978 for some $215 IIRC. I have used that old Randall for everything from chopping down small trees to carving turkeys (really!) and cutting up fresh and frozen chickens when I was newly married and it has done everything that I have asked of it, even to cutting all the way through a Virginia Whitetail Deer's neck, spine and all, save a small strip of skin, during a deer hunt with one slash. It even survived an 18-year old's attempt to learn knife throwing, something that Bo Randall definitely discouraged in all of his fliers. I have never used the Model 1 for anything much as I bought it as a collector's piece, but both are of the same high carbon steel and I see no reason to think that the Model 1 would give less service than the 6" Bowie.
The Model 1 is so named because it was Bo Randall's first commercial design, made for GIs during WWII. This knife has been around serving America's troops honorably ever since and I have talked with folks who have used them to open 55 gallon fuel drums, ammo cans, a Red Chinese trooper in the case of a sergeant that I met down at VMI in 1961, and everything in between. It has done this well, except that the classic leather washer hilt has not held up well in tropical environments. If I were to order one for taking into harm's way today, I would order it with a micarta or other hilt on it, even though it would lack that classic look, a good sacrifice to utility, and I would definitely specify the high carbon steel and spend some effort in maintenance rather than ordering the stainless. I'll ask a question to Ad at this point: Go over to SwordForums and read about swords made with stainless steel and tell me if you would then order a large combat knife of that material? I would not, and I love my Spydies with their CPM440V, but their blades max out at 3 5/8" in a folder, rather shorter than a 7" fixed blade combat/utility knife that I would use for opening oil drums, etc.