Respectfully, I think you guys are missing the point (ho ho) about the "no Moras" rule in this thread; I took it to mean, there's so much info available on this forum alone, he doesn't need someone to explain how great they are again. I should point out that I own both a Necker and a Mora, I'm a card-carrying fan.
Buck268, are you willing to invest some elbow grease and have or know someone with a grinder? A modified Old Hickory (made by Ontario, one of the standby, go-to purveyors of 1095 knives) is a fine idea. Maybe you should talk to Fiddleback about that.
I used to have a USAF pilot's knife and I have two things to say about it... it's REALLY hard to break (except for the last 1/4" of the tip, don't ask me how I know that

), and it cuts about like a splitting wedge. Not the steel's "fault" by any means, it was designed for a pilot or soldier, not a camper or hunter. If you're willing to spend some time pulling the bevel up closer to the spine so you get a narrower angle to the cutting edge, I believe it would be a very fine knife. They're certainly about as bullet-proof as you could ask, comfortable to use and carry, and affordable. The sheath is bulletproof (well, it IS leather, sooo...) too and they come with a stone, never a bad thing. The few I've actually handled are an aggressive medium-grit, a good choice for this knife IMO.
If you don't need it to slice onions razor thin or pop hairs off your arm, it's 100% complete out of the box.
It's strikes me that I'm having a bit of trouble thinking of other knives with these specs, under $50. That's kind of sad, surely I'm forgetting some?!?