I voted for stainless, but that is only because there are some really good high-carbon stainless, or stain resistant steels available these days. My true preference is for CPM steels, 3V, and 10V, with tool steels like D-2, A-2, and O-1 coming in second. These fight rust to some extent and take a wickedly fine edge.
I do prefer the best stainless steels to simple carbon steels like 1095. CPM S90V, ATS-34/154CM hold an edge a good long time, though they aren't easy to put a fine edge on. Even 440C, if it is carefully heat treated, holds an edge pretty well, and is moderately tuff.
But the design of the knife is far more important to me. I have a Fred Perrin La Griffe and a Matt Lamey bowie in 1095, and they are excellent knives. Just take a little more care.