I currently switch between a VG-10 Delica, an M390 Dividend, and an 8cr13MoV Atmos. I've owned and used a number of knives and based on my experience the order of importance goes:
1. Price / Value
2. Mechanical soundness (if it's a folder)
3. Heat treatment
4. Grind
5. Fit and finish
6. Steel Composition
One time I had a knife in S30V that was obviously burnt on the grinder at the factory, it was dark gold colored down the whole edge. It was handily outperformed by 420HC or 8Cr13MoV, and in addition it had strange lockup issues. It should have never left the factory in such obviously poor condition. I learned real fast that a premium steel is not enough to polish a turd.
1. Price / Value
2. Mechanical soundness (if it's a folder)
3. Heat treatment
4. Grind
5. Fit and finish
6. Steel Composition
One time I had a knife in S30V that was obviously burnt on the grinder at the factory, it was dark gold colored down the whole edge. It was handily outperformed by 420HC or 8Cr13MoV, and in addition it had strange lockup issues. It should have never left the factory in such obviously poor condition. I learned real fast that a premium steel is not enough to polish a turd.