What the heck is "surgical stainless"?

I thought that surgical stainless was a 300 series material containing both Nickel and Chrome to boost the corrosion resistance to point where the steel was autoclavable. It wouldn't be hardenable. So not too good for blades, suitable for most other instruments.
 
In 17-4PH steel the "PH" stands for "Precipitation Hardening." see here: http://www.matweb.com/search/quicktext.aspx?SearchText=UNS+S17400

The problem with the term "surgical stainless" is that it can be used to mean two different things. One of those things is the stainless used in scalpel blades, typically a low-carbide razor stainless, and the other is type 316 used for surgical implants. The 300 series stainless steels (which includes type 316) cannot be hardened to make good cutlery.
 
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