I used to operate a Tersa jointer with M42 steel. My observation was that the HSS straight knives from Wisconsin Knife Works (not sure of the exact alloy) in our other jointer were more wear resistant than the Tersa. The steel Tersa knives gave a wonderful finish when new and definitely were a cost advantage over straight knives due to less labor and no disincentive to stop work to change out the knives. I could never convince management to spring for carbide but I believe they would be a better value once you get over crying at the initial cost. Larry's and Joe's experience is telling.