Yep, had a Queen BEM tear drop locking jack and the shield fell out the first day. The liner lock was barely catching and the edges was minimal sharp as well. I glued in the shield and eventually sold it. The Queen BEM folding hunter I got in the same order however, was excellent beyond needing the blades gone over. It's on my duty belt as I type this.
I too have mixed emotions on these knives. Earlier ones were less to write home about. There was always some small something off, a weak spring, off grind, etc. Even at their best the earlier ones were just a tad heavier and blockier than most of the American or German offerings. Lately though they've really paid attention. Not only has the F&F been much better, but they are doing things like swedges on the blades, rounded bolsters, better handle treatments, and other things that make them seem more "finished" and feel better in the hand and in the pocket. I've actually had and handled few late ones that got some compliments and would enjoy carrying, but ended up selling or trading them to a couple of guys at work.
The Cases, Queens, et al, still have a feel, hard to describe, inner vibration to them that seems deeper. Maybe it's the materials, scales, steel, finishing. Maybe it's just my nostalgic imagination.
There is a place for both. The guy who starts by buying a few RRs and starts to learn patterns and appreciate traditionals may well find that he(or she) is getting an itch to add some classic American or European names to their growing collection.
For the guy who just needs a decent working knife and not interested in anything more, $10 on an RR is going to serve him much better than a lot of the other junk out there. We can only hope those other guys get hooked and start gathering in traditional knives across the spectrum.
Glad the OP's is giving good service. As he stated, it's "just" a $10 knife, but he feels it was a good $10 spent. Nothing wrong with getting what you paid for out of something and a little more.