I have been reading up on AUS-8 steel on the forum and the web. I just received a knife in this steel and do not have any experience with the steel. In any event my research indicates that the steel will take a keen edge but will not hold the edge long. If this is the case, can someone share with me the technical reason the steel will not hold an edge very long. Clearly how long any knife steel will hold an edge is dependent on use, but is there something in the properties of the steel that causes it to lose its edge faster than S30V or CPM154 for example.
Ken is correct. AUS8 has less carbon and molybdenum and vanadium than newer steels. These contribute to wear resistance. What was good about AUS8 at the time is it is high carbon (relatively speaking) but also stainless. Back then it was good to have a stainless knife with the properties of a high carbon steel. Like Ken said, technology has advanced.
You can improve wear resistance by going more obtuse. I.e. go for 20 degrees per side vs. 15.
Steel is relative to cost also. In my opinion, a $30 knife in AUS8 is great. I would never pay $100 for AUS8 though.
