This is not normal spec for Cold Steel sheaths. All my secure-ex sheaths are not too tight, not too loose.
If you can still return it/replace it from where you got it, I recommend that. That should be covered by warranty.
I'm sorry to report that the normal retention these days is often exactly what
deltablade
experienced, as many of my recent Cold Steel fixed blade sheaths have had the same issue, particularly those with metal guards. I don't know what the problem is, but I suspect that it's new (and entirely separate) sheath suppliers. The current sheaths come heat-sealed in plastic, separate from the knife, which means that nobody at the factory sticking them in the box with the knife has ever tried to mate the blade and the sheath even once. That being the case, if the sheath's retention is too tight, who's going to figure it out before the owner tries it for the first time?
It's an irksome problem. But what makes it worse is that it's really dangerous. If you cut yourself trying to force a fixed blade out of an overly tight sheath, that's going to be a bad cut! Plus, it makes the sheath useless for a rapid withdraw of the knife in an emergency. Basically, it's defeating some of the best features that a thermoplastic sheath is supposed to offer!
While I take your point about returning the knife, I don't think that's the best option these days. Neither the retailer nor GSM is going to view it as a defect, and if a replacement is sent, it likely will have the same problem. I'm afraid the best option is to just grind down the retention nubs until the fit is right, like others have mentioned.
But I definitely think that every one of us should call/e-mail Cold Steel to report the issue. Maybe if Customer Service gets enough complaints, GSM will take the hint and implement better quality control at its factories. That was part of what Lynn and crew were doing by pulling random knives out of the shipments and testing them--ensuring proper construction and working out manufacturing kinks. Contrary to what Beam and company seem to think, it wasn't just for clicks on YouTube to move more units....
-Steve