Walkabout, thanks for the link to Boye knives, they look like they are well thought out, and I see the maker has lots of interesting stuff to say re: knife performance, testing etc. Have you used them, do they hold up well?
Re how does H1 work, I own one but am somewhat ashamed to say I don't know how the rust resistance works either (I actually got it because I like the blade shape, much like the infamous "Harpy" but with synthetic handles and can vouch for its construction and cutting power but not rust resistance). I think the idea is that the iron is bonded to other elements such that it doesn't oxidize, or at least not much. You might get a better answer to this is in the Spyderco or metallurgy forums.
Spyderco doesn't mince any words when they say H1 WILL NOT RUST, I have not seen any report of someone saying they had any rust, I would think if rust were a problem the company claim would be mocked/dismissed.