Oh fun site.
Ankerson I don't agree with your analogy. If I asked would people rather drive a 2016 Prius than a 1916 Ford Whatever-They-Had (not good with their early history, but thinking it was still the Model T) I could see that response. Because there are obvious improvements made from such old vehicles, and I really mean obvious. A person doesn't have to do much research at all to know it would have greater top speed, better fuel economy, better safety, heck cars that old didn't even have starter ignition, AC, radio, etc.
With steel I can't see the differences being so extreme, I mean not in the sense that the situation could be pointed to as lving in a different time.
I'll put it like this then...
Say you have a cowboy Bowie from the middle 1800s or some time around then. Not primitive but not quite as technologically and/or industrially advanced as today. Then the knife got sealed in some kind of time chamber that made it impervious to any kind of corrosion so essentially it was the same strength today as it was when it was made.
Now say someone made the SAME bowie, an absolute clone, but used the cheapest steel they could find today. Still made it with as good a heat treat as the original blade, just new steel.
Basically what I am thinking is with all the time that's gone by, the technology and engineering that went into even a modest steel, it surely must be better than the metallurgy people were limited to a couple hundred years ago?
I guess another way to get at what I am saying is if you grabbed random iron as a blacksmith and then made your own steel, say two hundred years ago, what would that steel be the equivalent to in grade? Would it be like 1095 or even close?
Your premise is wrong because the cheapest steel of today would be something along the lines of what goes into the cheapest SOGs: Whatever "440A" equivalent those are, it doesn't matter because the cheapest Chinese made junk today is often basically
un-tempered: It is hardened, and it will hold an edge, but will shatter on you in multiple pieces if you rap it on a brick: This has been demonstrated by rapping the spine on a brick for cheap SOGs like the Jungle Warrior, and their cheapest half serrated Desert Dagger clone behaves the same...
I have seen 440B and C range from stuff than will bend the edge while chopping on Maple, literally bend on Maple so bad that the edge will curl and point upwards towards the spine (on an $800 Andrew Clifford Sly II) to Randall's 440B, which seems cut straight from Excalibur herself (and humiliates INFI in durability while chopping through concrete cinder blocks, as one guy in Italy demonstrated)...
If that is the range 440B/C can perform at, that designation number means absolutely nothing, short of how it rusts... (Just the molecular cleanness of the original billets can make a huge difference)
Good 440 steel should outperform excellent traditional Carbon, because old Carbons are generally lower on the performance scale, but the origin, cleanness and heat treat of 440 are such sensitive issues that saying "the cheapest available today" makes the comparison meaningless.
The best 440 of today is better than anything from past centuries.
Of course good stuff from the past will be better than absolute junk from today...
In my experience, if you don't know the maker, whatever designation is on that steel is pretty much meaningless. Use a power tool on the edge, and even the make will tell you nothing until you hand-sharpen past the burned area...
Gaston