To me it looks like the blade has been overheated. Try watching for decalesence to prevent over heating which will grow the grain in the steel. You could remove the handle and do heat cycles to reduce the grain or you could treat the knife as a test blade and break it to check on the grain. You should not be able to see individual crystals but it should have a satiny appearance.
I agree with Doug. Its almost impossible to determine how a knife will perform based on a vague description with no pics and few details. Those round blister-like spots are almost always indicative of overheating. And usually by that point its probably a safe bet that there is some edge performance left on the table......at best.