Blade design and edge geometry are generally more important than steel . The best steel is limited by a suboptimal heatreat .
All that said , I'd prefer 154CM with a primo heat threat , than 425 with a primo heat treat .
I'm well equipped for sharpening , so that's not too much of a factor .
Enviromental considerations factor in , ie: in a pocket enviroment , in high humidity I'd prefer H1 or 440 C to 154CM , or 630V .
My favs are 440 , 154CM , A2 , and D2 ( assuming perfect heat treat in every case ) .
Chris