Of course it does, you just can't feel it.
On a totally unrelated note (hey it's my thread

) I noticed a person (who will go unnamed) mention that bearing systems like the Southards add unnecessary cost to a knife. I would have bought that a couple of days ago, but as I was looking for supplies at a knife making supply website I noticed that they carry captive bearings just like the Southards for something like $6 for a set. Perhaps (?) there is some associated cost with the system (extra milling or what have you) but in quantity it makes me wonder why the big 3 aren't putting them in every model.
When you take the lockbar (detent) pressure off of the Southards blade it swings completely freely, and anyone who has one can tell you there is absolutely zero play in any direction.
I realize that manufacturing costs are figured down to the fraction of a penny in industry like the automotive world, but I'd be willing to pay an extra $10 for every knife I buy if it swings like the Spyderco.
Just a thought.