OK, here's my non-expert comments, much is just from reading around here, nothing official, mostly only my opinion or educated guess:
440A and 420HC are very similar in composition, there is not much difference between old and new Schrade+, the change to 420HC was because it is available (or became available at some time) in rolls which made it easier and less expensive to work than steel that comes in sheets.
Other makers (Buck for example) which used 440C for a while, changed to somewhat softer steels (425M, 440A, 420HC, AUS6, etc.) mostly because they could be cold stamped, 440C has to be hot stamped or laser cut (also costs a bit more and is harder to grind, etc.).
In later years 420HC was used by Schrade in place of 1095 because stainless is easier to store and handle without rusting, in the old days stainless was expensive but in modern times ease of handling and storage became more important.
Heat treat is important and Schrade knew how to do it right. Schrade Pro Hunters are beautiful well designed and well made knives that will do a great job, whether they are old (440A) or new (420HC).
Luis