I've got one and it does great. Just be sure to clean and oil it as soon as you're done with it or the blade will turn. I used some 000 sandpaper to get a lot off but still visible.
Absolutely, the carbon steel they use is extremely rust prone, I accidentally ordered the carbon version for my son, and I carry the Sandvik stainless version myself. I forced a patina on the carbon blade with mustard and vinegar, otherwise there wouldn't be much of a blade left. I will say that that carbon steel takes and holds an edge VERY well though.
The green one is a Companion, and the red one is a 511. I added a little bit of 3M grip tape to the handle to make it easier to grab, it makes a world of difference, especially for my son who is young enough to just start using knives. There's no way his hand is going to slip off that hilt.