Well mine arrived about 3 hours ago and I'm impressed. I had a CQC-7BW and while I thought that was a great knife, I do feel that the HD7 has (IMO) a few improvements over that one from what I remember.
* As stated, I was surprised to hear that this had the bearing system, as that bit of info was not listed anywhere on the sight. I had heard that the Iron Dragon was an extremely smooth operator from those that have them. When I took the HD7 out of the box it flipped open easily, and even free-dropped back to closed. Again this was the FIRST time I opened it.
* I really like the feel of the Ti back with the G-10 scale. The smooth Ti makes the knife easier to wave without chewing up your pants pocket like the double G-10 version. The clip still provides great retention, but the HD7 is noticeably easier to insert and remove from the pocket.
* Build quality is awesome, IMO. Sutherland mentioned that his had a sharp lock bar cutout. Mine is actually *chamfered* in that area, and is not sharp at all. That might just be that mine was built on a Friday and his on a Monday, but it was impressive that they had that little touch on mine.
* In typical Emerson style there was some lock-stick out of the box, but it's improved greatly to where there is now only a hint of it, and that's without adding any pencil lead/sharpie to the area, too.
* After playing with the knife for about 20 minutes it developed a bit of a gritty feel in one area of the action. I cleaned the detent ball with alcohol and a Q-tip, then dipped a toothpick tip in Kroil and touched it to the detent ball. After working the action a few times the knife was even smoother than before. I've been playing with this off and on since I've got it and would now describe the action as wet-glass-on-glass smooth. I'm talking ridiculously smooth here. And this is not even a day old! I understand that some may think the bearing system was not necessarily an improvement to the overall design, however having owned both, I would definitely say it was an improvement in terms of pure function.
All in all I'd say I'm more than happy I decided to grab one of these.