I love my Rat-1.. Sharp as hell, nice heft, solid lock up, great price.. No experience with Mule but from the looks/price doesn't seem like you could go wrong..
I have owned the old FRN Mule and the RAT 1
If had to go with one I'd go for the RAT 1, but mostly because I like that the knife offers top down carry. The KaBar mule looks to be only tip up carry.
Never owned the FRN but the Rat 1 is quickly becoming my favorite folder. It has stiff competition from my little Kershaw Leek though. Been carrying the Leek for about 5 years or so and really do love it as an EDC blade
I have the Mule with the Zytel handle. It's just a different carry compared with the RAT-1 owing to the weight. It's over half a pound. The RAT-1 blade is also easier to deploy than the Mule's -- liner-lock versus lockback.
That said, the Mule has a very secure feeling, owing to the weight and the snap of the lockback. But it will drag your pocket down more than the RAT-1.
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