the tip will be the first thing to go. If that's the case (Because it creates a lot of work grinding back the entire bevel if it does) a tiny back bevel from the spine down - like a millimeter or so in length and maybe only about 10 or 15 degrees - will add enormous amounts of strength to the tip without making it too blunt.
As far as the steel and the rumor that stuff like A2 or V11 is better for chisels (or whatever the flavor of the day is now), not a chance. Steel with carbon a little over 1 and only enough nickel, chromium or manganese (or a combination of it) to be hardened well will probably never be bettered for wood chisels, and the matrix/fineness is far finer than modern steels with a lot of chromium in them for hardening stability.
The only modern steel I've used making chisels that matches the best of the old wards is 26c3, and you won't see any manufacturers using it any time soon (26c3 can have double the toughness at 64 that O1 will have at 61.5, so you get the biting hard edge with it, but it's also tougher and will take more energy to break). And there's nothing really unusual about 26c3, it's just high carbon with a trace of chromium and manganese mostly for hardenability (sheffield chose natural ore before modern steel technology that had trace elements in it that made it more hardenable).