Hi folks, that's my knife and sheath in the pic. The knife actually looks better in that pic but the sheath is best seen up close.
Anyhow, I'm wearing the piece as I type this. It's a one piece with a large mouth like the new Spyderco Moran sheaths. I prefer kydex over leather and wear small knives in ice pick grip with the edge forward. The leather sheath that came with the Basic #3 was not to my preference as it rode very low. However, I'm keeping it for my knife fighting drills.
The Tec Lock is great for two reasons a)helps keep the knife in place/no shifting and b)allows easy switching of carry. Retention of the sheath is excellent, I specifically asked for more than average retention and the fact that the blade doesn't wobble is even better. Resheathing, I'm still getting used to as it's still tight.