Wow, CRKT is really getting to be popular among forumites! Can't disagree with that...I have a large and small CRKT KFF and they both rock. Great bang for the buck, awesome finish, etc. I don't mind the AUS-6 since this knife is not meant to do huge cutting tasks and such. However, I DO mind the bead blast finish on all their knives, which create rust pretty quickly. They really have to do something about that, maybe provide an option to sell the knife without this finish.
However, if you're looking for real quality at a low price(e.g. best blade materials, consistency in outstanding production and finish, razor-sharp blades out of the box every time, etc.) I'd have to say Spyderco is the King of the Hill. They have a knife for every purpose, and consistently try out different quality steels on all price-range knives. They also rarely use cheaper steels in their knives, and even then they feel like quality steels the way they handle cutting tasks.
To me, the Spyderco Native exemplifies the ultimate "under $50" knife. I still CANNOT understand how Spyderco dared to sell this knife for so cheap a price (found it for $43 with different internet retailers). It is designed to handle multiple cutting chores and is excellent for thrusting also. And, of course, never forget the fact that it has a CPM 440V blade, which is considered as good or even superior to the famed ATS-34 steel.
Also look at the Spyderco Calypso Jr. Lightweight. This knife cuts like a demon with its VG-10 blade, and is even cheaper! Although I highly respect CRKT for its innovative designs and collaborations, the fact is that their lower quality and cheaper materials cannot even begin to rival Spyderco.
-Flood