I have three fixed blades with D2 steel that see a lot of regular use, a RAT-3, a Fireant from Charles May and a 5" Tusker from Razorback knives (Scott posts here from time to time).
I've used them both for farm work, long horse rides (over a week long), hunting trips and hiking. I've battoned wood, cut a lot of things and dressed game. No problems so far.
I've heard people talk about D2 being hard to sharpen, but that hasn't been my experience with these two knives. The Razorback has a very nice convex grind, and I've never had to REALLY sharpen it so far, stropping on leather or a mouse pad with 1500 grit sandpaper is enough to keep it scary sharp, I think I've only touched up the edge a few times over almost a year of use.
It did take me a bit of work to get a really polished edge on the RAT-3, but it wasn't long enough to be frustrating. Mike Stewart, from Bark River knives, convinced me to take the trouble to get a very polished edge, and he was right, performance is a lot better, and the edge is supossed to be less prone to chipping (something about large carbides, I'm no expert but I like the shiny edge!).
The Scandi style grind on my Fireant is was also easy to keep sharp, Mr. May made an excellent job of grinding that edge bevel.
Edge holding is superb, specially on the convex Razorback knife. A little stropping from time to time keeps the edge very sharp.
Rust resistance is enough for what I need. The RAT-3 is coated, but the Fireant and the Tusker aren't, and they've held up pretty well. I used to use only stainless steel knives, it was these D2 knives that slowly drove me back to carbon steels. I try to keep my knives dry an oiled, but sometimes on long trips I can't keep them as clean as I'd like. The Tusker, which is the one I use the most, has developed a rather nice, dark, patina after months of use.
I live in a rather hot and humid part of South America, some knives rust here from just sitting on a shelf. D2 has worked well for me so far, it can't resist rust as well as true stainless steels, but it does a lot better than my 1095 blades.
I've only used this steel in small and medium fixed blades, and from my experience with it I would recomend it.