The type of steel in your chisel is a major factor in the chisel’s longevity, the time between needed sharpening, price, weight, discoloration or rusting, and yes, ability to affect wood. In my experience, there are three kinds of steel that go into the blade of the chisel.
Tempered steel chisels are your most basic metal, which means that you’ll pay the least for these chisels. Tempered steel chisels are the heaviest, but they don’t keep an edge as well as other steels. Tempered steel chisels will last a very long time, however. In my shop, the tempered steel chisels last until they start to rust, which can be decades.
I suggest that you buy a simple tempered steel chisel set if you’re just getting into chiseling because you won’t have the necessary skillset to take advantage of lighter steels.
Chrome and vanadium steel alloys are the lightest and also the most expensive of the common chisel steels. Alloy based steel chisels require frequent sharpening, but in my opinion, will produce the best results in the hands of an expert chiseler. The one major drawback is the short lifetime of alloy-based steels, as they discolor, warp, and sometimes even shatter.
Carbon chrome steel chisels are more expensive than tempered steel chisels but less expensive than alloy based chisels. Carbon chrome steel chisels require the least sharpening of all the chisels and have a durability that’s almost as good as the tempered steel chisel with a weight that’s slightly lighter.
I think that carbon chrome steel chisels are good for an intermediate chiseler, but an expert will probably be irritated by its weight.