HarlowJ,
If you like the Covert, buy it. It is a great knife. The only reason I didn't respond more quickly was that I was traveling and didn't see this thread until today.
I wrote a full review on the Covert a couple of years ago that you can read on the KnifeCenter of the Internet's review pages. Perhaps the original Covert didn't catch on because of the button style Inter-Lock that they employed on them. It was a little awkward to use because it was on the left side of the handle. That also necessitated putting the pocket clip on the right side, opposite of the usual right-handed setup.
Things I like about the Covert:
I like the stainless steel frame embedded in a Zytel shell. The outer handle is molded with good texture, grooves, and wide radii on all the corners. It is straight thick and round, and it is a comfortable handle to use hard. The steel frame and Zytel combination is very solid and rigid also, one of the most striking things about the knife.
The spear-point blade shape is very versatile. There is a fine point, a fair amount of nicely curving edge, and just the right amount of serration. The blade works very well for utility, being almost paring knife shaped. I like the single ground blade better than the double ground blade. A full-width flat grind is about the best for utility and durability. In a recent test I did with a bunch of ATS-34 blades, the Covert's edge proved to be extraordinarily durable while being pounded through coathanger wire. Other, more expensive knives were chipping, but the Covert sustained zero damage. Some of that is due to the steeper edge bevel angles on my Covert, but it proved that it is well tempered. It is bead blasted, but very lightly, and I have had no rust problems with it.
Production quality is remarkably high on the Covert. All the parts are finished extremely well, and fit precisely. The lock on both of the Coverts I've had passed all my tests without the use of the safety, but all liner-locks can slip under certain circumstances. The Covert's safety is almost automatic to engage, is mechanically brick simple, and works. I refuse to buy an ordinary liner lock, but I carry the Covert with confidence. Releasing the safety is no big thing. It is easily accomplished one-handed, and an utter non-issue for me.
I got one of the original ones. Sold it. Missed it. Saw the new lock safety, and bought another. It gets regular rotation in my pocket with other really great knives like the Apogee and the 710 Axis lock.
The only thing I don't like about the Covert is that the symetrical shape has resulted in my picking it up upside down occasionally. The thumb falls naturally right in the middle of the serrated section when you do that, so when you pick it up already open, you have to pay a little attention to make sure you index the blade correctly.
If you like it, buy it. It's a great knife.