I didn't like it when I saw it either. Here's a small review I did of it in the passaround forum:
"First off, the knife fits like a glove. It feels great in hand and due to the fairly large handle it feels like a bigger knife. The G-10 is VERY grippy. So grippy that it makes it a little hard to slide it in and out of your pocket, I loosened the clip up a little to help out.
The lock is great. It is recessed into the handle so it would be pretty dang hard to accidentally close it. Though, when you are trying to close it, it is easy and requires little effort. The knife closes very smoothly. It's also very easy to open, just a flick of the thumb and its ready to go. This is the first Spyderco that I've realy handled and I love the Sypderhole now.
I have mixed feelings about the blade. It's design helps and hurts it. Due to its shape, it's not the best push cutter or slicer around. What it is good at is opening things. It's great at detailed work and anything that requires the use of it's tip. The tip is what makes this knife for me, it's really the only part of the blade I used. This thing owns boxes. It came with a very sharp and toothy edge, as expected from Spyderco.
Overall, I like it alot. It may not be the best EDC because of its blade shape, but it makes a great utility knife. It will be my first knife from Spyderco even if I have to buy one."