Benchmade knives are much better looking, but most have thumb studs & seem to have thicker blades, and usually saber ground.
Spyderco knives have the round opening hole & usually have thinner blades.
My preference usually goes to Spyderco's full flat ground blades, like the full flat ground delica or calypso or caly3.
I have a BM 710 that I really love, but if it had a hole instead of a stud, and was a bit thinner on it's relief grind, it would be perfect.
I can't afford the long discontinued Benchmade 806, with axis lock & thumb hole, but I can dream.
In the mean time I have the full size calypso.
Also, I like that the hole in the blade does not catch on, or interfere with cutting something right up to the base of the blade, whereas the thumb stud sometimes does.