PM2 in CruWear or Bugout 535 in S30V: A Choice About Heat Treat
Two knives, two philosophies. A buyer weighing a Spyderco PM2 in CruWear against a Benchmade Bugout 535 in S30V got a thread that spent very little time on the steels and a lot of time on who hardens them well, which is the correct priority.
The Bugout's case is about carry, not cutting. It is a knife you forget is in your pocket, which is the single most valuable property a daily carry knife can have. The PM2's case is about geometry and scale materials: a taller blade with a thinner grind, full liners, and a lock that many people find more confidence-inspiring than an axis lock. In the Crucarta configuration, with micarta scales and CruWear steel, it has become one of the most-recommended production folders of the last few years.
The heat treatment question is where the thread turned. One reply stated flatly that Benchmade's heat treatment is inconsistent while Spyderco's is among the most consistent in production, and that argument carried weight with several owners who own both. That is not a claim a spec sheet can settle. Two blades in the same steel at different hardness behave like different knives: harder means better edge retention and more risk of chipping, softer means a tougher edge that rolls and needs steeling. CruWear gives up some corrosion resistance for toughness, which is a reasonable trade for a working folder, but only if the hardness is in the right window.
Owners who replied with both knives in hand were split in an instructive way. One said the Bugout is his favourite but should really be bought in S90V, MagnaCut or M390, which is an admission that the S30V version is the compromise model. Another praised his 15V PM2 lightweight and an S90V Bugout with titanium scales as different kinds of good. Nobody argued the Bugout cuts better.
The verdict: buy the PM2 in CruWear if you want the better cutter and are willing to carry the extra size and weight. Buy the Bugout if the knife has to disappear in a pocket, and accept that the standard S30V version is the entry point rather than the best version. Neither is a mistake, but they solve different problems, and the steel debate only matters after you have picked which problem you have.