Elmax is one of the best all around stainless steels used in the cutlery industry even though it started out as a plastics die steel or something. The steel is extremely clean. I've taken mine ( Speedform 2) up past 8,000 grit with strop on leather with diamond. It takes a great edge and can cut well at high polish, or low ( 220 grit or so). I seem to get higher sharpness levels than S30V initially, and it seems to keep the high levels longer. I have yet to cut until it was completely dull in a head to head but I'd think they aren't too far off.
As Blade Chick stated the corrosion resistance is good to excellent.
Edge stability is great for a highly alloyed, high carbide stainless. A bit better than S30V and M390 IMO.
Toughness levels seem pretty good though that comes from reading posted results and not any testing to destruction of my own knife. Can't afford that stuff and probably couldn't be bothered anyway.
All in all Elmax is one of the best all around stainless steels used in cutlery now, in my opinion at least. You can find steels that have better corrosion resistance ( H-1), more wear resistance ( M390, S90V), and toughness ( Perhaps H-1, 420 used in frames at rc 50-52, and perhaps steels like 12c27(m) though I'm unsure about these) but the all around scores are up there with the best of the best in high wear stainless steels.
Joe