Does anyone have any idea if titanium blade knives are worth their price or not?  A friend of mine has one, he cut through some chain link fence with it, but does their ability to do such things make them worth the $$$$ wanted for them?  Anyone have any opinions on this?

If you live in an area where chain link fences are a constant or regular threat, then by all means. I have several knives with Titanium scales or frames, so some of us do buy such things. Can't say as I ever bought one BECAUSE is had titanium thouogh. I every case I can remember I bought the knife because I really liked it and it happened to have titanium scales or frame.

As to a titanium blade specifically, I'm not sure just what the advantage of using titanium for the blade would be. Using titanium for the frame or scales in a pocket knife will reduce the overall weight of the knife and so improve comfort. But for many jobs you want the blade to have as much mass as possible and so titanium would actually be undesireable then.

I'd ask "How much?" Then I'd look around within that budget and see if I couldn't get a custom knifemaker to make me exactly what I wanted.

If i could afford it, id get a Ti bladed knife.
The advantages of having a Ti blade are:
1. holds an edge longer
2. much lighter than steel
3. impact strength
4. non-magnetic
5. non corrosive
6. just damn cool to have a Ti bladed knife

My father gave me a Benchmade CQC7 with a Titanium blade a few years ago.  It is pretty neat, but I'm not sure I would have bought one myself.  My knife does not have a titanium edge.  Benchmade has welded (for lack of a better word) a carbide edge to the titanium blade.  My understanding is titanium will not hold a decent edge.  It is a very light metal.  It is non magnetic and will not rust like steel.  This is really the only titanium knife I've handled much.

From Joe Talmadge's steel FAQ:

"Titanium Newer titanium alloys can be hardened near 50 Rc, and at that hardness seem to take something approaching a useful edge. It is extremely rust-resistant, and is non-magnetic. Popular as expensive dive knives these days, because the SEALs use it as their knife when working around magnetic-detonated mines. Mission knives uses titanium. Tygrys makes a knife with a steel edge sandwiched by titanium."

50 Rc is typically way too low for a working knife.  While titanium has some advantages in certain situation I would never want one for most tasks.  The advantages of titanium in folding knives, as part of the liner or handle mechanism, are strength and weight.  While not necessarily good at edge holding titanium is difficult to bend or shear and is extremely light while imparting additional strength to the folding knife, hence, its use as a liner or handle material.  Chris Reeve Sebenzas are among the strongest folding knives made due to the solid titanium handles and integral locking mechanism.  They are also very light and fast.

Quoted: If i could afford it, id get a Ti bladed knife. The advantages of having a Ti blade are: 1. holds an edge longer 2. much lighter than steel 3. impact strength 4. non-magnetic 5. non corrosive 6. just damn cool to have a Ti bladed knife

1. since titanium is softer than steel, it will not hold an edge as long. if it has a carbide edge, then yes it would.

according to Boker, they make a Ti alloy that holds an edge 6 times longer than steel.
from a Boker quote

The Titanum line offers unparalleled performance for the most demanding users, and is crafted in a unique metallic shade of blue. Titanum's revolutionary titanium alloy composition allows the blade to remain sharp six times longer than conventional cutlery. Additionally, the titanium alloy composition of the blade is a proven killer of bacteria, including salmonella, staph and strands of E Coli, within six hours of contact.

here is an explanation of the lower rockwell. but longer edge holding ability of Ti alloys.

Unlike plain blade steels, Mission blades are both expensive and difficult to machine and grind. Because the blades are of titanium, one must remember you can't really compare them to steel blades when speaking of Rockwell readings, etc. For example, the average steel bladed knife is probably heat treated to a Rockwell level of between Rc 56-59. The lower you go in the hardness level, the "softer" the blade is, meaning it wears quickly yet is easier to restore an edge because of that softness. Titanium, however, has a wear or abrasion resistance three times that of steel so it retains its edge. Mission blades are "thru-hardened" to Rockwell C47, which is hard for this material, yet it still maintains flexibility, strength, hardness, cutting edge retention, and corrosion resistance, even in sea water. Some of their titanium blades come with V-grind construction, which field tests and actual usage have proven superior over many steels. Furthermore, some of the knives are partially serrated with a design that has proven very effective.

bladesinternational.com/factoryevaluations2002/mission-knives.php

here is a great article from Blade magazine on Navy SEAL knife trials,and the selection of Ti bladed knives as a duty knife.
the article also mentions the fact that new Ti alloys are much more abrasion resistant than steel. These blades wont wear out faster than steel unless you are cutting things harder than 44-46 on the Rockwell scale.(how many things are you using your knife to cut are harder than 44 RC?)
In the past they couldnt manufacture Ti blades that can compete, but things have changed.
the pics below show a Ti bladed knife and a steel bladed knife, and what they both looked like after the gruelling knife trials.

the top blade is steel, the bottom Ti.
heres the full article
www.missionknives.com/articles/breakthrough.html

here are 4 knives after salt water immersion testing.
1.Mission Knives MPK Ti blade
2.Ontario Navy MK3 MOD0
3.Ontario USMC Combat Knife
4.Ontario Air Force Survival
can you guess which one is titanium?

That's fine for a dive knife. But for the other 99.99999999999% of us, I just don't see any advantages in a Ti blade. JMHO & YMMV.

I have to agree with Sig on this one. Ti is fine for Dive knives, SEAL's, Credit card knives, some neck knives, folder liners/ handle materials and Timascus. For the most part a good corrosion resistant steel ATS-34, AUS-8 and BG42 to name a few will offer great performance against rust but still hold up to usage that demands steel.