If one manufacturer uses 154CM over all other steels, that comment could be interpreted to mean that he simply favors one brand over another brand.
As stated in this thread, it doesn't tell me what he thinks 154CM is actually better at than VG-10. Some people think the most stain resistant steel is the best, some think the toughest steel is the best, MOST think the highest wear resistance is the best, and some think the easiest to sharpen is the best.
I would think that if you had two identical knives (which might be the problem of everything here), it would be almost impossible for any normal person to tell the difference at all between those two steels. Jim has them ranked as category 6 (154CM) and 7 (VG-10) out of 9, so two or three steps above the bottom for wear resistance.
Don't forget, Spyderco isn't the only manufacturer using VG-10, other manufacturers seem to sell VG-10 as a very premium steel to the point where you might be paying $200 for a pretty normal knife with this premium steel. Other manufacturers might prefer to heat treat VG-10 at a much lower hardness, so it could perform pretty terribly on another knife.
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