Hello. I just bought the micarta-handled version of the Thompson neck knife. Mine doesn't have the hole in the blade. My first reaction was, wow, that's little. The second one was, where's the cord so I can wear it around my neck?
I'm far from qualified to make any sort of review, but I can offer my subjective reactions.
It was (still is) quite sharp. (How sharp is that? I don't know, that's one of my subjective reactions.) The sheath seems nice to me. There's no chance of the knife falling out of the sheath. On the other hand, it is a little hard to withdraw the knife. I wonder if I had a ball-chain necklace to hold it, whether the force of unsheathing it would break the chain. I don't have to worry about that since it didn't come with one. (I was thinking of paracord, but then it has been mentioned here that one could be strangled. I suppose, but if someone were to try strangling you, then he/she probably is empty handed and you've got a neck knife, right?)
The sheath is made of kydex and is of the kind that's folded over and held in place with two Chicago screws. It has three chamfered holes along the edge for the chain or cord.
I can't comment on the wood handle. From the photo, it looks lovely. I wonder if it would be slippery, though. The micarta handle on mine feels comfortable if not a little small. I feel I don't quite have the same leverage as a longer handle would afford.
The blade on mine is 2.5 inches long and is very pointy. It strikes me as less utility and more of a last ditch defensive 'tool.' It can still cut open boxes and trim excess plastic off of things.
The way the handles are roundish, I'm not sure how much this knife would 'print' under a shirt. Since it didn't come with a chain or cord (I know, this is the last time I'm going to mention it), I don't know. I carried it tucked in my pocket and it was very unobtrusive.
This is my first Derek Thompson knife and I'm very pleased with it. I should also say that I've dealt with Northwest Cutlery several times and have always been pleased with the service.
I had considered buying the knife you're considering. It looks very spiffy. I think if you like the way it looks, go for it.