The issue with the high-alloy steels (most stainless steels) is that the better the edge retention, usually the greater the wear resistance and difficulty in sharpening.
The grain structure can actually be seen without magnification, but the blade needs to have a decent finish on it and you need very good light. This will give you a rough idea. Of course to properly examine the grain, you will need magnification.
When I look at blades, I play it in the light and beneath the surface finish (satin hand rubbed finishes can make it a bit difficult to see) there is a waterry pattern that some people see more clearly in D2 - they would call that the "orange peel" texture, because the grain structure is rather large. On steels like ATS34, the grain structure is smaller and more even, and that "orange peel" texture is there, but it is simply in much smaller scale.
On my forged and stock-removed carbon steel blades, I want the hardened edge portion to have a grain structure so fine, even when etched, the grain structure looks like an even matte texture. Ie.- you should NOT be able to see the grain at all, with the naked eye. For this reason, all my carbon steel blades are etched in ferric chloride to inspect for quality control, as per Ed Fowler's recommendations. Many other knifemakers do that too.
Hope that makes sense. If this is total BS, please correct me. These are some ideas I've been operating with for some time. Jason.