I have the 4" camp knife with wrap over leather handle, which I bought second hand from Tom Carey. I received the knife in obviously heavily used condition. The name etch on the blade is almost worn off, and the sheath has obviously been worn as a daily carry for some time--Tom confirmed that he used it as a utility knife at work. The wrap is impregnated with a hardening agent and wears like iron. I assume it is epoxy. It has a very grippy feel, and looks brand new. This is not a wrap which you are going to take off and re-wrap. It is solid, immovable, there to stay, and from all appearances functionally impervious to just about anything.
By the way, the blade shows no rust whatsoever--just a light speckling of surface stain. This is a very tough knife.
--Will