KNIVES
Knives
One of the most important tools for a chef is the knife. Inexpensive, poorly made knives just don't cut it (yes, pun intended). Knives which can't hold an edge not only interfere with the cooking process, but they can actually be dangerous as you must use force and press on them to try and cut things, exposing your hands to dangerous situations.
A good set of knives will last a lifetime and can be passed down to each generation. While quality knives cost more at the onset, they will actually be less expensive over the long haul.
There is basically one choice for the blade material--high-carbon steel*. This high grade steel takes and holds a fine edge and is basically impervious to wear and tear. It is extremely strong and can cut through most cooking ingredients.
The tang of the knife (the metal part to which the handle is attached) should be sturdy and extend the full length of the handle. The handle can be made of wood or other material, but it should be fastened securely to the tang and balanced well. Better-quality knives will have the handle in two pieces so when attached, the edge of the tang can be seen clearly between the two pieces.
There are many fine cutlery companies with J.A. Henckels and Wusthof-Trident being perhaps the best known. Recently, J.A. Henckels cutlery has been available at department stores at fairly low prices. However, these knives are not made in Germany but in Indonesia and other countries and are not up to the same quality. A quick check would be to see if the tang is visible around the entire outer edge of the handle, but basically, if the price seems too good to be true, it most likely is not a German-made knife.
While perhaps not suitable for all knife needs, ceramic knives now need to be considered. After watching Food TV's Ming Tsai use ceramic knives, I got one from Cooking.com to try. It was a joy to use, to put it bluntly. I would hesitate to use one for heavy-duty chopping, but I would recommend that every well-stocked kitchen include one or two.
I also have to say that I bought a set of Miracle Blade III at our county fair. They looked cheap, felt cheap, and were cheap. However, they cut surprisingly well. If you can't afford the quality German knves, I don't think you can go wrong on the Miracle Blades. You can find them at fairs and on some online outlets.
Recommendations
With the advent of a second tier of J.A. Henckels cutlery, I would recommend going with Wusthof-Trident. Cooking.com offers Wusthof-Trident with free shipping and no sales taxes.
