Hi Mathew,
154CM is a very decent steel with good corrosion resistance. I have had no issues with Emerson's heat treat--the balance skews more towards toughness than hardness, which I find appropriate for their overall design as general purpose/martial utility knives. I suspect this is also why Emersons are not offered in full flat grinds from the factory--emphasis on strength. Just my opinion.
I find the chisel edge easier to sharpen than a conventional v-grind edge. Some folks complain that the secondary bevel is ground on 'the wrong side' but I find it easier to sharpen as a right-handed user--especially during free-hand sharpening; no special sharpening system required. YMMV.
I've not used the Emerson warranty but I have heard mostly good things.
Lock-stick. If you're accustomed to other brands, I'd wager you will probably have an issue with the initial lock-stick on new Emerson knives. I find myself using the tip of my thumb and nail to overcome the ti-on-steel galling effect of the liner on the blade tang. Not gonna lie; it is pronounced--I've owned six and they were all the same BNIB. The good news is that it eventually goes away--broken-in Emersons are very smooth but it takes a while to get there. Don't be discouraged by any initial lock pop!
Breaking in a new Emerson is kind of like eating a bowl of coarse granola cereal. Starts out super crunchy and maybe even a little uncomfortably rough, but by the bottom of the bowl, it's just crisp and delicious. IMO, the best way to break in a new Emerson is just to handle and use it. Maybe a slight tweak to the pivot screw and perhaps a drop of mineral oil--that's it. Again, YMMV.
Emerson are wonderfully tactile knives. I would encourage anyone curious about the brand to try one.
Good luck, OP!
-Brett