Sorry, I don't know why they discontinued it.
As far as black vs stainless, or any other finish, go with what you like.
The things I liked about the CRKT, aside from edge-holding, weight, and balance, also include the durability and strength of the tanto point, and the serrated rear portion of the blade. (Very handy for instantly severing the twine that bundles hay bales, which is a useful trait around a horse barn; also not bad for cutting a seat belt or safety harness in a wreck - though that hasn't yet come into play.)
Also, the open design of the handle makes it easy to drain water from it, and clean and oil it. So the CRKT is the knife I normally take with me on white-water runs.