I'd go for a minimum 8 inch or 10 inch Chefs Knife, a 12 inch or better Slicer (the Granton edge is particularly useful here), and the 10 inch Butcher Knife. A boning knife, a paring knife, and a sturdy cleaver would round out my bag. Oops, and a good steel. Those are very handy. I like the F Dick sharpening steel but they are pretty pricey. A good ceramic that is at least 2 inches longer than the longest knife you will use it to hone is really worth having and not so much money. You can balance that with a smooth steel version if you prefer one that you won't worry about breaking while carrying it around. For home, I'd have a ceramic if I only had one. Or I'd steal my brother-in-law's F Dick if he wasn't looking. Evil me!
Troy .. I do compete and cook professionally.. actually competing has little to correlate with knife skills or knife/steel knowledge.. but using knives as a profession has enabled me to get an idea of their various strengths and weaknesses but nevertheless everyone has preferences. I started with sharpening stones almost 20 years ago and have experience using both belt sanders and stones to sharpen, fix chips, etc. I also frequent a Kitchen Knife forum to keep up to date.
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Steve A, I linked the shorter versions of Slicers because I couldn't find too many examples (no finger guard or limited bolster) of the handles I like in the 12 inch versions. The shorter versions also are more versatile to use as a Carving Knife as well. Full bolsters get in the way even preventing sharpening near the handle.
I also had a slicer like the Victorinox 12 inch slicer ... and gifted it away because I didn't like the way it performed .. specifically the handle issue I mentioned. It's debatable whether or not a 12 in Slicer is even needed by most people. I only used mine when I wanted equal pencil thin pieces of large cuts like for a Brisket turn-in box or once I used mine for presentation serving like Roast Beef for a catering event.
Other than those two uses, I can't think of too many purposes where I couldn't use a 10 inch Chef's knife.
If you go with Vctorinox (Fibrox) or Dexter Russell Chef's knife, I'd suggest to not buy the 8 inch plastic handle versions. The plastic finger guard gets in the way of a Pinch Grip making ones fingers bang against the cutting board when chopping... the 10 inch plastic handle or Victorinox wood handle knives do not have this issue.
I'm also on the prowl for a 12 inch slicer (for comp brisket turn ins) but just haven't found anything I like for a reasonable price. Most western handle Japanese Sujihiki's are well over $100 and I find it hard to invest that much in a knife that is not used much compared to a Chef's knife. I found a German steel (440A like) Sujihiki style in a
Mercer Sashimi Knife which may work for me. I figure I can thin it some and create a double edge (15/20) to improve it's performance.
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Regarding Victorinox and steel quality, I own a a few. In general Victorinox or German/Euro quality steel knives (440A like) are considered closer to the low end of stainless steel quality.
Probably more than most want to know about knife steel qualities.
http://zknives.com/knives/articles/knifesteelfaq.shtml
Knife performance is all about maintenance and care. A low end knife that is not maintained is about as good as any high end non-maintained J knife.
Chad Ward's book "
An Edge in the Kitchen" is a good read and in many libraries.
an online version is here:
http://forums.egullet.org/topic/26036-knife-maintenance-and-sharpening/