Benchmade made a good titanium folder in two sizes, which is now discontinued. I used one for a long time, and liked the lightness and sharpness alot, until I started using talonite. No doubt about it, titanium certainly doesn't hold an edge very long and certainly has limitations.
There was a maker who had a very good idea: he made a laminated knife, titanium on the outside, steel inside. I posted about him a couple of years ago but his site hasn't been up for a long time. Tygris Knives, I think it was. Someone reponded saying they had one and it didn't perform that well, particularly the edge, if I remember correctly. There are also other titanium knives out there, and most try some technique or other to fortify the edge.
I can't think of any real advantages titanium would have over stellite or talonite except maybe magnetic signature, but there are at least a few carbon fibre and ceramic knives out there too. But talonite won't crack or shatter when you drop it on a rock.
[This message has been edited by HJK (edited 05-20-2001).]