I have a Case Hobo in Vintage Stag.
I haven't had the oppurtunity, as of yet, to use this knife.
I think that the construction, fit, finish, and edge sharpness is up to Case's usually high standards. I just love the feel of their stag handles. It's a shame that stag is in such short supply now.
As for the bottle cap opener, I too have no use for this item, however it is my understanding that it was added not just as a purely functional role. Case was reintroducing a old version of a Hobo that they made back earlier in the century and this is more likely the reason that they included a bottle opener.
If I had only one complaint it would be that a spoon would also have been a nice addition. I mean, didn't people back in the 1920's use spoons too?
Overall.....It's a very nice and useful tool.