I personally think the blade steel thing is marketing and not really a concern if you take care of your blade. Look at the grandpa knives. No one cared about the steel, yet they were used for generations. I personally feel that it matters more that whatever you use, it is kept sharp with routine care. Like an oil change, it matters more than you do it at the scheduled time rather than what brand oil/filter you use. For my daily use, I can not tell the difference between my Buck 110 or Buck Advantage pro. If they are sharp, they both do the same job.
For me, the blade steel choice is primarily about how long it will remain sharp before I have to sharpen it, and how easy/difficult it is to sharpen. I actually think that 420HC is a fantastic compromise in edge retention and ease of sharpening, although my favorite is 154CM. S30V is a more premium steel, but I find it too difficult to sharpen. I haven't needed to sharpen my magnacut blade yet, so I guess the jury is still out on that one.
The Buck Vantage Pro was my "perfect" knife for a long time, simply did not see a knife being more comfortable, better blade shape, steel etc.