CPM M4 has shown up on some production knives from Spyderco, IIRC. It is very tough and incredibly abrasion resistant. That makes it hold an edge for a LONG time and also gives the edge great stabillity even when taken down very thin. The problem with the stuff is that it is so wear resistant once it is hardened that you had better be satisfied with a machine finish and be willing to use a belt grinder and diamonds stones to sharpen it because thats apparently about the only way you can touch the stuff. I got a chance to talk to Warren Osbourne and a couple of other others guys who first used the stuff in comp knives a few years back at the Knifemakers Guild show. They raved about the stuff, but said it was a bear to sharpen. The one thing that I did find very interest was that because the stuff will hold such a fine edge under the torturous conditions of comp cutting, they were able to reduced the thickness of the typical comp knife a fair amount and pretty much eliminate the distal taper which put the weight out front, but also made the "sweet spot' where the blade cut/hacked bet much larger. M4 might be a bit too difficult to work with for the typical thin pro kitchen knife, but it would make a hell of a cleaver for sure.
Wow this thread got pissy fast. You knife guys are an odd bunch.
*******, tell me more about the M4. I saw somewhere a hardness versus toughness graph and it looked like it would have excellent potential for edge retention. I understand the difficulty in sharpening tradeoff but I would guess that once you got and edge you'd be good to go
-AJ