Personally I prefer CRK since I can take it apart to lube and clean.
But WHK has really refined design, smooth action, and lighter weight IMHO. I only use WHK for paper cuts.
Whereas, I use my CRK for paper, food (after a good wipe/clean before and after). I feel I can use my CRK more freely due to its ease of cleaning.
All of these are 2-3" long and nice sharp & light (no more than 3 oz max):
WHK = William Henry Knives, CRK = Chris Reeve Knives
Top to bottom (Brand/Model (Scales, locking mechanism)/Blade Steel):
1. CRK Small Sebenza (micarta in lay, frame lock) S30V
2. CRK Mnandi (mammoth ivory inlay, frame lock) S30v
3. WHK Monarch (Desert Ironwood w/Citrine, button lock) ZDP 189
4. Best Value for a light sharp knife: Falkniven U2 (Zytel, lockback) SGPS laminate
5. WHK T-10 CF (Carbon Fibre liner lock) ATS 34
only the bottom 2 are small enough to be qualify since the top one is a tad more tha 3" in blade and 3.5 oz.
Top to Bottom:
1. WHK T12 SS LE (Sterling w/Tiger Eye, liner lock) DLC-coated 154 CM
2. WHK T09-Flow LE (Palm wood/sterling bolster, topaz studs, button lock)
3. WHK T10-CF (Carbon Fibre, liner lock) ATS 34 for a brighter view
My newest fancy -- slipjoints, cool multi-blades and much refine that modern tacticle one-blade knive.
I prefer the vintage Case. Only drawback is I cannot take it apart and clean it thoroughly: