From what I understand, and think, the phrase High Carbon Steel can mean
that it is actually a Carbon Steel Knife, with Stainless Steel added as
a rust preventitive.

This doesn't necessarily make for a bad knive at all, and if properly
made/tempered, it can be a knife that will take a very sharp razor edge,
and hold that edge for a very long time.

I have three very well made Western Cutlery Westmark Hunting knives that
are like this, and are both heat treated, and cryrogenically treated.

There is a rec.knives group on usenet, and perhaps you may find
suggestions/recommendations from the gurus in that group also. There
seems to be many who have vast knife knowledge there.
Mark