To the guy who mentioned Cutco two pages back, they are excellent. Of all the knives in my kitchen and they are a mishmash, one 70's era Cutco carving knife is by far the best. Slices right through london broils and I dont think I've even honed it for years. Cutco is an excellent brand. Even expensive knives can be flawed in terms of their steel, hardness and temper, etc.. It's more about personal feel and trying stuff out than one would think, but collecting kitchen knives to try them out is an expensive and extraneous habit to get into..
I have no doubt overall Henckels is a good value. But I am sure as far as pure quality goes Cutco has em beat. Not sure how active cutco is right now in production though, you might want to go to ebay for vintage stuff. Steel quality is better in older knives.
Henckels is a very old brand, whose quality was much higher at the peak of knifemaking (100+ years ago) than it is now. You can't go wrong with them, but if you want something really special get some oldies. Problem with them is that older knives don't have modern shape and materials, and a modern life in mind in their design. Anything truly excellent made today will be pricey, but picking and choosing on ebay can get you around that in some cases. Plenty of people out there appreciate quality knives, and yet plenty of people don't know jack and don't care.
I'd go Cutco, on ebay, if I were in your position. Spend the money you save on cigars baby.
Definitely don't buy anything that doesn't have the steel running from tip all the way through to the end of the handle. It's an easy sign of poor quality if the steel stops midway through the handle. Generally, the more rivets the better (to a sensible degree, 24 rivets in a four inch handle is obviously overkill). Point is if it has two rivets, its cheap. Overall, look for signs of extra labours in knife construction or material and it'll help identify a piece of steel some effort was put into.