A lot of the drawing issue will depend on how you decide to carry the Ringer. I carried it first in a MercHarness and then on my keys, and while it was easier to draw from the Mercharness, it was a bear to re-sheathe. The sheath retention seems pretty good in my experience, but I found myself unable to get a full two-finger grip while the knife was sheathed, having instead to switch to a more secure grip upon drawing.
That being said, you can't go wrong for the price, and I've been nothing but impressed performance-wise for such a little blade.