If you are cheep @$$ cuttlery of Nowhere Mass... then the answer is you blank the suckers out of a lousey grade of 200 Stainless.
If you are one step above, then you blank them and pass them over a grinding wheel.
Joe average knife maker out there uses J420 (softer than 440) and does a decent job of putting an edge on it.
If anyone uses 440, but doesn't say 440C, avoid it. 440A and 440B are too brittle for the strength of the steel.
Of course, any of the assumes that the knife maker actually does some tempering after the knife has been blanked out. Cold Steel uses 420J2, but they harden it up to the standard 56-58 Rockwells so that it's on par with the high end Henkles or Cutco 440C.
My rule:
440c at 57-60 Rockwells for the kitchen (does a great job of holding an edge).
420-J2 for throwing (The exception is that Cold Steel makes the True Flight thrower in Carbon V which stands up to lots of use).
If you want a killer knife, ATS-34 or Crucible Steel is great if the blade is very thick. Benchmade has been known to use these.
Carbon Steel is great for blades, but rusts like an SOB. 1095 is the most common variant. I saw some guys making throwing knives out of it (I'm assuming from old lawn mower blades). If you want to use it for general purpose knives, people typically treat it with some sort of coating.
Cold Steel has some good articles at:
http://www.coldsteel.com/articles1.html
Benchmade does some really wild customer service things, and provides some good info on Steel:
http://www.benchmade.com/about_knives/materials.asp
And if you want to see some REALLY pretty steel...
http://www.twistednickel.com/damascus.htm
The guys over at Twisted Nickel make real (300 layer) Damascus with 1095 Carbon Steel and Nickel. Check out the prices on the finished product, and you'll see why it's not common.
And if you want to see some of the Corkum stuff, this is a good link:
http://www.bladeart.com/artists/stev...eve_corkum.htm
Check the prices and see why "Joe Average" doesn't buy good knives.