The Buck 301 is a great knife. My grandfather carried one for years and years- for as long as I knew him. I don't know how long he had it, but it was used very hard, and he swore by it. He lived on a huge farm and kept several horses and did a lot of heavy-duty work. He snapped the tip off of one of the smaller blades at some point and ground it flat so he could use it as a screwdriver. My Grandad loved that knife. Dad has it now, and I expect it will be mine someday.
My Dad carried a 301 for years too, and used it for farm work, and never complained about it. He carries a Kershaw Blackout now, and uses a cheapie "Coast" multi tool I gave him years ago. I think I paid $5 for that little multi-tool over 10 years ago at Wal-Mart- but he loves it. He's used it so much that it's all slicked up and pocket worn and actually looks beautiful. So much for "cheap Chinese junk".
I have a 301 and I like it very much. I was actually working on it last night- I've been modding a lot of my slippies lately- doing "final finishing" myself. I tell you what, the steel on that thing is some of the hardest stuff I've ever encountered on a slipjoint. I'm working on sanding the backsprings flush, and it's taking forever- even though they were mostly flush to begin with. Pretty impressive- the 301 is a hell-for tough knife. The only thing I don't like about it is the blades have pretty wimpy snap to them. But as a user, the 301 (the American version) will give you many years of hard service. I can't speak for the Chinese version, but I suspect it would hold up just fine.