Stan, I mentioned Japanese chisels earlier, as well as Veritas PM-V11. Another point I touched on was that Western and Japanese chisels tend to be used differently. Finally, commentary has included vintage Western laminated blades and their worth. There is a thread that weaves its way through this, and in your post, that I would like to toss up for further discussion.
I am also aware that Brandon, the OP, is a knife maker and understands steels, and so would enjoy his participation here as well.
There are two issues: the first is how the decision to purchase Japanese and Western chisels is influenced by the way they are used. Western bench chisels tend to be all rounders, that is, one can hit them with a mallet or push them by hand into the cut. By contrast, when I pick up a Japanese bench chisel, I also always pick up a gennou. It is rare that I will push a bench chisel. If this is needed, a slick is instead used. (Yes I know that a hooped chisel can be pushed, but the Japanese chisels are designed to be struck, and best used this way).
The blade length of the average oire nomi is short compared with the Western bench chisel. The two chisels tend to have a different feel, a different balance. Recommending Japanese chisels because of their wonderful blades ignores that the newbie may find the change unsettling. I switch between the two styles all the time, and do not think much about it, but am reminded of this by this thread.
Perhaps Warren might comment on the vintage laminated Western chisels he uses, and whether he has compared the styles with laminated Japanese in regard to their ergonomics.
The second issue is that of vintage vs modern steel. I agree with you that good laminated Japanese blades are sublime. I am reminded of this when using my Kiyohisa slicks. The Koyamaichi mentori I have used for the past dozen years are better than the best modern Western chisel I have used. There is no doubting that these blades have been the result of many years - centuries - of experience with steel and its preparation. What of the Western counterparts available today? The point you made above is that shortcuts are taken to create a working blade, and that the product is mediocre (compared to what Japan can offer). That is not the part I wish to draw attention to (as I agree). Over the past 10 years I have been exposed to a number of different modern steels: A2, M2, M4, 3V, D2 and a few others. The first one that I have been excited about is PM-V11. This is the first use of powdered metallurgy that balances edge durability and steel workability (i.e. ability to sharpen easily). In this, there is a similarity to laminated blades to achieve the same goals.
This is not about PM-V11, however. My thoughts lie with how manufacturers in the future will be able to design steel composition in a way that the past blade masters could only have dreamed of doing. The question is not whether this will become a reality, but when it will be commonly available for woodworking tools. PM-V11 is just the beginning. I know of at least one
other manufacturer using PM steel in chisels.
Regards from Perth
Derek