Tamahagane steel constructed Japanese swords are impressive, but there are other swords and types that are equally impressive. Just one example, like the Ulfberht is just as much a technical marvel for its time period, yet nobody holds the opinion that they are some sword without peer, which they absolutely were for their time period.
I own many swords, many of them Japanese and Chinese in origin, from WW2 officers made from pretty cheap steel, to full length katana and wakizashi that are several hundred years old. I'm also a member of the Japanese Sword society of Canada, and a friend of mine runs the
http://www.nihonto.ca/ company, sourcing Japanese swords and weapons for commercial sale. While the time and techniques put into a modern commissioned Japanese sword constructed by authentic/historical methods, especially the polishing and sharpening, can be appreciated, such a sword really doesn't perform or resist edge damage all that much better than a modern sword in the $1000 range. Blended carbon steel swords these days made with 1095/1060/1045 blended steel that are deferentially hardened, I'd put them up against any priceless Tamahagane constructed sword with a 3 month polish job, in terms of cutting/battle performance and edge damage resistance. That's how good the modern steel and techniques have gotten in punching out blades that perform. Are they as pretty? No, and obviously they hold little historical value or significance, but they work as well as anything ever made.
Considering how many swords companies like Paul Chen and Ronin Katana sell, and how many students like ITTA and other iaido/kenjutsu/tameshigiri schools have, plus the kendo clubs around here, I think the interest in Japanese swords and swordsmanship is at an all time high. My first short story I based on the missing Honjo Masamune in fact, mostly due to the current level of interest in swords in general.
Bustr - you ever do any work with/for James Williams in California?
For cooking blades I've used the same Spyderco set they gave us when my former company used to distribute their knives, I don't think one of them was retail more than $100, and they still sharpen up like they were new. MBS26 stainless steel, nothing special at all.