You asked, so this is my personal take:
I own both in large and small sizes. I think the Griptilian is a great knife standard...and with the Ritter I think it's on a greatness scale with knives like the Kershaw Chive/Leek, Spyderco Delica/Endura, Buck 110, and Chris Reeve Sebenza in the sense that the knife does exactly what it sets out to do, and it does it so well you have to take special note of it.
To me, the Ritter is a must-have because it is such a great performer at such a reasonable price. Doug Ritter did the design with both heavy 'survival' usage and every day light usage in mind, and I think that has resulted in a knife that is capable of multitasking and fulfilling the different roles a pocket knife could see at any moment.
The Ritter's high flat is IMHO groundbreaking. I like the slicing capability of a hollow grind, but dislike how easily the edge tends to damage and how much metal is removed from the blade. I like the robustness of a scandi grind, but dislike its relatively poor slicing performance and food prep abilities. So many have settled on flat grinds which in recent time has blown up in popularity, and I have become a big fan of them. The blade shape of the Ritter bears a resemblance to the 'leaf' blades previously seen on models like the Spyderco Lil'Temperance (I think that is the model), which was a notable knife for the heavy usage it could withstand, yet it did well with almost any kind of task. The high flat grind of the Ritter really gives great performance all-around. It can slice, but it can also do heavier work. The tip has a lot of steel behind it and is much stronger than the standard drop point, but it can perform delicate tip work. The blade tapers to decrease resistance with certain cuts, but it still has a lot more steel behind the edge than the hollow grind. I would argue that the Ritter is both a better slicer and a more durable blade than the standard Grip (which is a tough blade to begin with.) I will go further and dare say it is perhaps the best blade Benchmade has ever produced, it is one of the best blades one is going to find on an EDC folder, and that it equals or outperforms many knives that are priced multiple times that of the Ritter.
To me, that is the "excellence" that I find to make the Ritter so noteworthy in a world of many nice folders, as my own logic argues that a pocket knife may be used for anything and everything, and so my ideal goal in a blade is a blade that can do everything reasonably well instead of having excellent performance in one area, but lacking performance in another, combined in a package that is practical and preferably affordable. The Ritter Grip doesn't just meet these criteria, but it owns it!
When it comes to spine serrations, many people on this forum have noted they play a huuuuge roll in control, and I agree. The spine serrations are exceptional, and the real-world effect from that is control, stability, and comfort. It is much more comfortable to use than the standard Grip, and one of the most comfortable blades I have ever used. I find it a very good choice for prolonged usage in which the geometric design of the knife helps reduce fatigue.
Also, the Ritter is in S30V steel. The base 154CM is a great steel, but S30V is arguably an improvement. Both steels deserve credit for giving great performance across the board (edge retention, wear patterns, tough, stainless, not a nightmare to sharpen, etc.) They are well-suited to the role of general-usage folding knives.
The finish also makes me happy. The Ritter is available in stonewashed finish (don't get coated if you can get SW!)...stonewashed is as durable a finish as they come and it both hides scratches better than anything and increases corrosion resistance over some other non-coated finishes.
Some people do not like the handles, but with any Grip you always have the options of aftermarket grips from makers like Wilkins (their G10 and ti grips are awesome.) I think the large aftermarket customizing is a major plus as not many knives have so many different options for users to customize the knife to their own needs/preferences.
So if I forgot to mention this, I really like the Ritter.
So my vote is that the Ritter is worth the extra money and it is one of the best values in folding knives today!