Over the years I have made a number of blades from lumps of vanadium-carbon spring steel and also some insanely strong prybars and punches. This involves forging, grinding and most importantly the art of heat treatment. Once the correct hardness is achieved I've found that coarse oil or water stones are the best first stage, a small amount of coarse silicon carbide on the oil stones speed things up a bit. The second stage goes to medium oil stone or medium ceramic water stone. The final stage is a fine ceramic water stone and a light brush with a WELL WORN diamond sharpening steel or a brush with a razor strop, depending on the purpose. The edges are usually RAZOR sharp depending on the quality of the steel. Sharpening angles are compound with hollow grinding done before heat treatment. The latest technology in carbon-chromium steels is producing some amazing blades, Spyderco being a well known make. My kitchen knives are J.A.Henckles stainless steel and hold an edge almost as well as carbon steel. 'ATS' stainless blades are also very good.