I bought one of the black coated Ripcords for that very reason. I just had to know if it lived up to any of the "I wonder" statements made here on the kershaw forum. It is a very impressive little piece, not much bigger in the hand than a blur, but with a thinner and slightly smaller blade. There is an inherent amount of horizontal and vertical blade play simply because of the integral liner lock and the way the knife is deployed. however just to see i opened her up and put in a large amount of grease (militec-1 with lithium grease) and tightened the screws as much as possible. that helped a bit.
for a laugh i bought a mini tek-lok and mounted the ripcord for a horizontal draw, american belt systems are perfectly adequate for gun belts and the thicker 2" belts, however for daily use at work i prefer a tek lok because it fits a 1.25 - 1.5' inch belt much better and you can reposition horizontally or vertically.
I think the design is a very unique one and i don't regret my purchase at all, in fact with some tweaks i think it could be quite an EDC.
For instance, the ability to clip the sheath inside a pocket? tighter tolerances to reduce play and thicker liner lock would make it an even better value. ill post some pics this weekend with the tek lok so you can see what i'm talking about.