I have the PM2 in S110V. Great size and ergos, fantastic lock and just a pleasure to operate. Easiest one handed opener and closer I've experienced, and I'm a lefty. But... since discovering the Native 5 LW, I've come to prefer the lighter and smaller package. I rarely find that I need more blade length and the trade off is a noticeably more comfortable carry. The back lock on the Native 5 is fantastic and it gave me a new appreciation of the strength and simplicity of this design. I have an S110V Native LW on the way and much as I like the PM2, the Native will likely see a lot more use. As for the steel, I've only had to touch up my PM2 on the Sharpmaker brown rods. I do this pretty regularly and so far the knife has kept the extremely sharp, toothy edge it came with. S110V has very high corrosion resistance, which I like--as long as I'm going to use a stainless steel, it might as well be extremely stainless. I have a couple of HAP40 and Superblue knives so it's nice to have something I don't have to use quite as much care with. If I know I'm going to subject the knife I'm carrying to some abuse, I tend to go for one of the carbon steels--a lot less work to bring back to sharpness. If I know I won't be able to sharpen my knife for a while and may not get much chance to clean it up after use, like when I'm traveling, that's when I go for the S110V. Another point about the PM2: I get my knives wet a lot, mostly fresh water, and one drawback of the compression lock vs the back lock is that the more complex construction tends to trap water.