I think a whole class of alloy can be dismissed as second-rate, at least in pure performance when sharpening with diamond hones: Carbon steels (though they still work well enough for me to buy them, I do so only when a stainless option is not available)... This is Knifemaker Jay Fisher's take on it:
www.Jayfisher.com
Quote: "I was shocked when I read on a knife maker's website that "Chromium prevents the steel from rusting but significantly degrades edge holding capabilities of the steel. All steels are composed of grains of the various alloying elements, the relatively large size of chromium results in a blade that will quickly dull and be very difficult to re-sharpen."
I was saddened when I read this, because it's completely wrong. It was easy to see why this guy wrote this; he's making damascus chef's knives, knives with blades out of 52100 plain carbon steel, and he's trying to paint a better picture of his plain carbon steel.
If you buy this guy's statements you are, sadly, misinformed. Let's get this very straight and clear. Chromium is an alloy that HELPS hardness, hardenability, and wear resistance, in many instances forming chromium carbides which are extremely hard and wear-resistant, quite the opposite of what this guy claims."
Another interesting quote: " "I have owned about 10,000 antique kitchen and butcher knives, and examined perhaps 20 times that number. I have found that good quality modern stainless steel knives, when properly sharpened, are superior in use to all older knives, even the very best. Stainless steel knives can be made at least as sharp as carbon steel ones, they stay sharp many times longer, and of course, they do not stain... the president of a major knife company put it very well when he said to me that preferring carbon steel knives over stainless steel ones is like preferring vacuum tube radios over transistor ones."
--Bernard Levine, Levine's Guide to Knives, 1985"
Yet you still hear, occasionally, how a carbon steel edge will outcut a stainless one... And so many factory knives are still made in carbon steel there must be a lot of people who believe it... Even Randall themselves openly claim that their 0-1 knives at 54-56 RC will outcut their 56-58 RC 440B by 10%, something I have a very hard time believing... But if even they can get it that far wrong, you have to wonder just how reliable are people trying to distinguish between stainless steels?
There is one aspect to this that is often overlooked: Because stainless is harder, if you are just using stones, even the hardest coarse stones lose their precise shape during sharpening, and so with a stone you will get a superior edge on carbon steel, just because of the lesser deformation of the stone for the same amount of stock removal...: All sharpening disadvantages of stainless disappear with good diamond hones.
I used to prefer Carbon because I could never get satisfying edges out of stainless with my stones, but the fact I always aim for 10° edges per side, even on large fixed blades, plays a role in this. With diamond hones, I find all the reasons for Carbon steel knives to exist have disappeared...
Gaston