I'm pretty new to hand tools and I've been reading about the differences in the popular tool steels for plane blades - A2, O1, and PM-V11. What I've gathered is that A2 is harder than O1 but has larger grains. That means O1 can take a sharper edge than A2 but won't hold it as well. PM-V11 can also take a very sharp edge due to the small grain structure and wears very well, but at the cost of extra time grinding and polishing at the sharpening station. Seems like a pretty simple matter of determining how much I value sharpening time, edge retention, and ultimate sharpness off the stones relative to one another.
But I'm left wondering how much of a difference there really is, especially in ultimate sharpness. I recall a comment from a poster on another site who said he prefers O1 to PM-V11, but they're both better than A2 because, "you can actually get them sharp." Implying that you can't actually get A2 sharp. This is certainly a misleading statement, no?
So I'm curious, for the folks who have plenty of experience with these steels, how much of a difference do you really notice in how sharp your blades are straight off the stones? Is this the type of thing that gets grossly exaggerated in online discussions when in reality the difference is quite subtle? I'd like to sort of calibrate my expectations if I try some of these varieties.
For reference, I've used an old Stanley #4 and #5 for a couple of years, and more recently added a LN #5-1/2. I sharpen with 1000, 6000, and 16000 grit waterstones and the Veritas MKII honing guide.