I have 2 knives with CRKT's ACUTO 440 (aka AUS 118) steel, a CF M16 and a Ti Mirage. The CF M16 was very sharp out of the box; I wasn't completely happy with the factory edge on the Ti Mirage, but like vesik, I cured that easily with a few strokes on a Sharpmaker. In my experience, ACUTO 440 sharpens fairly easily, takes an excellent edge, and holds it reasonably well -- cuts the tab on those 2 1/2 gallon plastic water bottles with no rolling or chipping (we won't mention which ATS-34 blades have failed that "test"), but needs re-sharpening after hard plastic wire ties (edge rolled).
I took the clip of my Ti Mirage, and it's now one of my favorite knives. Thin, light, locks up solid, and pretty good looking too.
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Dave
Let no one ever from henceforth say one word in any way countenancing war. It is dangerous even to speak of how here and there the individual may gain some hardship of soul by it. For war is hell, and those who institute it are criminals. Siegfried Loraine Sassoon