I have the cast iron version, but I think it has a better iron than the ones Rutlands presently sell - it's extremely hard steel, about 4-5mm thick, and takes and holds an edge very well indeed. There is nothing stamped on the iron, but from memory (about six years ago), it was one of the "posh" steels. I have no trouble sharpening it ("scary sharp").
I like it a lot. Like the OP I have never got on with the standard style of metal shave, although that might just have been ignorance of correct usage (my #80 scraper plane I find comfortable). I find the Luban one comfortable and I get nice results with it. I've been tempted to get a second one and grind it convex, as the only issue really is doing concave curves.
But as I said, I'm not sure of the steel used in the newer irons that Rutlands sells. For that reason I might go for a bronze one (and grind the cast iron body one I already have). Or perhaps just buy a more expensive, but predictable, US-made one.
Trouble is that I so rarely need one (and a convex plane even less so), that I usually think about that just after I've struggled for a bit, and then found another way, usually involving sanding.
Using the box lid as a reference, it's remarkably easy to set up: just assemble it loose, and put the sole down on the lid, with the iron lined up with the grain of the plywood. Use thumb pressure VERY gently on the back of the iron whilst you tighten up. That usually gives excellent results for beech, at least as a starting point.
Having a hard steel is helpful too, as the middle of the iron gets consistently hard wear, and it means a reasonable time between honings.
E.
PS: on mine the overall weight is nice, as are the Bubinga handles. If you get one, watch out for the small, thick brass washers under the thumbscrews. They're easily dropped (and non-magnetic, obviously), and you do need washers. This thread reminds me to put some cheap steel washers in the box for actual use, and keep the brass ones safe!
