I picked up a Hultafors GK and RFK (Green handle and blue handle). The green one is japanese carbon steel, slightly larger, thicker blade, but the steel is crap....very little carbon in it, and quite soft. Wouldn't take a very good edge.
The blue one is japanese stainless, and has better steel IMHO....it took a good edge, but I think it's still low grade steel and won't be all that rust resistant. Both lock in the sheaths very well.
Personally, I like the mora's much better, due to the better steel (love their laminates). Considering you can get some of the models for $10....really hard to beat for value.