The SOG is not appropriate for use as a serious dive knife, IMO. too big, too pointy, too rusty.
First choice: Benchmade River/Dive in H1 steel, about $75. H1 simply does not rust. The design looks good.
Second choice: Kershaw Amphibian, about $40. File the tip to a flat about 3/8" wide so you can use it for moderate prying and won't poke your BC.
Third choice: Underwater Kinetics Remora (this is what I keep on my BC; in truth you will *rarely* need to use a dive knife), about $30. At $30 the Remora is a really good, dedicated dive knife, so why bother with a multi-use knife? But if you really want to spend some money and/or need a big hunk of steel to show off, get the Benchmade. Though I'd spend the money on a custom wetsuit or if conditions dictate, a dry suit.
The expensive knife and watch are really for show. Serious working divers (yes, I know quite a few) tend to wear Casio G-shocks and to carry rusty, bashed-up old knives that don't like like much but that are kept at least moderately sharp. They laugh at noobs with $500 regulators and huge knives and tanks that still have most of the paint on 'em.