What to look for in folder depends on what you wish to use it for and what you are comfortable with. I look for user comfort, ease of opening and closing, solid construction, good materials, and the maker's reputation.
I too fell in love with the Buck Alpha at first sight. It is one attractive and well made folder. Mine is the ATS-34 version with rosewood scales on the handle and a very nice leather sheath. A 420HC version with black rubber scales and a cordura sheath is also available. Mine came scary sharp and locks solid and feels very good in the hand. Make no mistake, this is a heavy and robust folder, built to take care of any outdoor task. It is definately not made for pocket carry, unless you don't mind a heavy folder in your pocket.
The ATS-34 version has the Paul Bos "flame" logo like the Buck Strider, however, the liner is not as thick. It still provides a solid lockup with no play in any direction. One nice feature is that the scales are held together by hex screws so you can easily remove the scales should you want to "customize" the handle with stag, bone, G-10 or other material. Buck has always put out good quality sheaths, but this one can be worn horizontally as well as vertically unlike the sheath on the 110.
I've carried the Alpha folder everyday on my belt and have used it for general mundane tasks as well as heavy cutting on cardboard and rope and it has so far performed admirably. The folder has dual thumbstuds so you can open it left or right handed and the action is very very smooth. Overall, I'm very impressed by it and feel it's one of the most attractive folders on the market which would make any hunter or outdoorsman proud to own.