In my collection I have almost 60 Benchmade's and close to 40 Spyderco's. The Earliest Benchmade is from 1995, and the earliest Spyderco is from the about 1990-91.
Warrenty and Repair: Both companies have a good to great reputation here. I would tend to say that Benchmade's might be a bit better. Keep in mind two things here, however. From what I understand, Benchmade is a larger company (more people working). Also consider this. The vast majority of Benchmade's knives are made here in their factory (excluding the Red Class). The number of knives made in Golden for Spyderco, compared to the total number of knives they sell is much smaller. If you send your broken Spyderco Civilian back to Golden, it is not going to the people who made it and gave it birth (they are in Japan). If you send your broken 940 back to Benchmade... It is in the "makers" hands. Some of those factors give Benchmade a slight edge in this dept. However, from what I hear Spyderco does a great job.
Fit and Finish: Benchmade has always impressed me as machinist who want to make the perfect knife. Spyderco is the company that wants to design the perfect cutting tool. You don't get a Spyderco that is not sharp. Of all the Benchmade's I have gotten, I can't remember a less than perfect fit and finish. I have had a few Spyderco issues (cosmetic or fit and finish), but I have gotten a few Benchmade's that were less than sharp. Pick you posion here I guess. In the last year, Benchmade has made some serious strides in the sharpness dept. I have gotten some seriously sharp Benchmade's
Price point: Look at the average price of the two companies lines... Benchmade is shooting for higher price point. A $120 Spyderco would top of the price structure. A $120 Benchmade is almost a value leader for them! So you like $69 knives, you will find more quality Spyderco's. Excluding the Griptilians, don't have a ton to pick from in the Benchmade line up (you can also get a BM 530)
Steel and materials: Spyderco gets the nod. They have always been one to try new steels. Now I am not sure I would say S30V beats M2. They are different, and I love both. However Spyderco will give you the latest and greatest in steels. Both use high tech materials in other areas (handles, liners). However Benchmade has taken to aluminum, and Ti... I think it goes back to that machinist thing and working with metal! I seem to like Spyderco's G-10 work better.
Collecting: Benchmade has some great LE. However IMHO, Spyderco seems to generate more interest in this area. I think it has to do with the fact that Spyderco models have a fast turn over rate. I have seen many a Spyderco that has only been for sale a year! I think this drives the collectors market for them. Also consider that they have a few more years on Benchmade and that may make a difference.
Locks and Openers: Spyderco has a wide array of locks. I have become quite partial to the Compression Lock... However the Axis Lock is amazing, and wins here. Strong, reliable, and repair-able if need be. However Spyderco's "Hole" is the best opener. The old Benchmade 800 AFCK can't be beat, with that round hole.
In reality, it comes down to what you like, what it looks like, and what moves you. Knife fans need to feel passoniate about what they carry. I can't tell someone which company, and philosophy will move them. However both are compaines I respect. I tend to prefer Benchmade.
Yet have a Spyderco Para Military in my pocket at the moment.
