For production knives, like many, I do put the Sebenza at the top, I am one of those obviously deluded people who believes it is one of the highest quality folders money can buy, and that many or even most customs can't even equal the consistant perfection that CRK acheives.
I have also been very impressed with the Benchmade 630 Skirmish. Amazing knife for the price, which hovers around $150 if you look around. Likewise, the Kershaw Bump framelock is near custom quality at a fair price too.
In the world of customs, I have long been a fan of the Mayo TnT. Prices on them have really come down from a couple of years ago, and it isn't that hard to find one these days for $600 or so, compared to $1,000+ in the past. The TnT is a knife that doesn't appear to be an overbuilt, so called: "Megafolder", it isn't designed to look strong, it is designed however, to actually be strong, and is as tough as any custom I know of, but with exceptional refinement and uncanny precision that few other customs can match. If you like the smoothness, precision and vault-like lock of the Sebenza, you will love the TnT and probably even moreso. And, unlike the Sebenza, the TnT does come with a decent variety of blade sizes and styles/grinds.
I also feel that Scott Cook's Lochsa is a remarkable framelock, with F&F that is nearly in a class by itself, Scott appears to have taken the basic Sebenza model and refined it significantly, his one piece Ti handle is a remarkable feat of engineering, and the Lochsa should be on anyone's short list for a high-end custom framelock.
Mike Obenauf makes a very impressive framelock for a very fair price.
It's OK that some people don't feel the Sebenza is worth its price, much like many people think that $4,000 for a Rolex Submariner is ridiculous when a $50 quartz Timex will keep better time, some people love their Subs, and some love their Sebs, and some think those people are nuts, but that's what makes the world go round, and by the way, Rolex and Chris Reeve both sell every watch and knife they make.