I consider the Hairy Carry to be made in an appropriate steel for an EDC small knife. I doubt that it is as "tough" as INFI or SR77, but edge holding and corrosion resistance should be very good. As far as Jerry Busse's heat treat, I'm confident that he has experimented with stainless steels and knows them well. If he didn't think 154CM was a good enough steel for some of his Swamp Rats, he would not have bought it.