Use the rule of observation when it comes to cutlery steel. Custom makers, who are generally trying to make the best knives they can make use ATS-34, or 154CM, CPM440V, CPM420V, D-2, 5160, and very rarely 440C. Never AUS-8, AUS-10, 420J, etc.
AUS-8 is a soft, outdated steel, suitable only for low price point knives that are competing on price, not function. Some of them are fine values for their cost, and some people will tell you that they prefer a Cold Steel edge that bends to a Benchmade edge that chips. All well and good, but carefully heat treated ATS-34 is tougher, and holds an edge longer.
AUS-6 is only worse, down in the seriously poor edge holding catagory with 420 and its siblings. They make serviceable, inexpensive blades that won't rust, but I have too many sort of inexpensive knives made out of ATS-34 that work a lot better.
GIN-1 is a pretty fair stainless, but falls below the line for me.
AUS-10 might make it under the line if the extra carbon makes it harden the way you would expect, but I don't have any experience with it.
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VG-10 is capable of being made into a darn good blade as evidenced by the Fallkniven knives. It is fine grained with performance very similar to well tempered 440C by the reports I've read.
Sandvik 12C27 is another very well performing steel when it is well tempered.
440C is a marginal stainless. If it is carefully heat treated, it will hold an edge almost as well as ATS-34, is more rust resistant, and pretty tough for a high alloy steel. It seems to be finer grained that ATS-34, and will take a really fine, sharp edge.
ATS-34 and 154CM (two names for almost the same thing) are pretty good steels. Carefully heat treated ATS-34 is tough, very abrasion resistant, and resists rust pretty well too, though it is just barely stainless. It is a very good stainless steel, the standard for custom makers, but it is getting a little outdated.
ATS-55 is ATS-34 with most of the expensive Molybdenum left out. The high amounts of Mo were originally put in ATS-34 so that it would stay hard at high temperatures, and it is not really necessary for knife blades. It does contribute some to toughness and strength though, so it is hard to except that ATS-55 has as high a performance potential as ATS-34, but it should be close in production knife environments where heat treating is not very exact.
BG-42 is a finer grained steel than ATS-34 with Vanadium added. It takes a sweet edge like a fine grained tool steel, and is somewhat tougher than ATS-34. Good stuff.
Boye Dendritic Steel (cast 440C) is excellent steel for smaller utility blades that don't have to double for prybars or survive a lot of heavy chopping. It really does hold an edge as well as medium alloy tool steels in my experience, and it is stainless. I love it.
CPM440V wears forever. Great stuff. I would put it about even with BDS, though 440V is tougher on paper. It is less stain resistant than BDS.
CPM420V is super steel. Extremely abrasion resistant, and very tough. All the best hand made hard-use, high-tech folders should be made with this stuff unless stain resistance is a higher priority. Maybe too abrasion resistant for big blades, as it would take lots of work to sharpen a big camp knife made out of it with a rock.
D-2 is not really stainless, but it should be considered along with stainless steels for hard use knives because it does resist rust a little better than simple carbon steels and most medium alloy tool steels. D-2 is basicly a medium alloy tool steel with a fair amount of Chromium in it. It is one of the best edge holding conventional steels, and offers great toughness when compared to stainless steels.
A-2 is a medium alloy tool steel containing too little Chromium to be considered stainless. Great steel, just not stainless.
Generally, all the steels below the line can make an excellent blade if heat treated properly and chosen for the appropriate type of service. Even those above the line make good knives if rust resistance and price are more important than edge holding and strength.
Hope this is useful.
Harv