Hi Culpeper,
I bought one of these quite a few years ago and stored it away carefully. After a year or so, I took it out and was shocked at how much it had rusted. (I have numerous other carbon steel bladed knives that don't rust.)
The guard and buttcap both had rusted badly - I think from something corrosive in the leather.
Not only that, but I had a very difficult time putting an edge on this knife.
One recourse:
I have seen some catalogs from Boker (!) where they are also offering a version of the M3. I would rather have a U.S.-made M3, but after having the experience I did with the Camillus M3, I'd rather just go back and play with the 'real' M3 that my father gave me. (He got it in a trade with a friend when he was a kid.)
This reproduction model from Camillus was only supposed to be a limited time offer, but they continued to produce it. It was mostly Brigade and Atlanta Cutlery who offered this knife. Wasn't a 'standard' product with most knife retailers. (IIRC)
It is surprising there are still some left and it might become a collectible someday. However, if you want to get a WWII era M3, I would suggest saving up, contacting some folks in Military knife forums, read up a bit, and buy one... The M3 Trench knife really is an awesome piece of cutlery history...IMHO...
Regards,
Mike