dano: I also have wondered what that rivet is. Perhaps it has something to do with production and holding the components in place during assembly.
Warthog: I cannot say that it is better looking than the Sebenza. Of course appearances are completely personal. However, I do believe it is a good, much more aggressive design than the Sebenza. The Sebenza's "beauty" (appearance wise) is in its simplicity, classic, politically correct, subdued styling. The ATR's physical beauty seems to be in its aggressive, deadly appearance and highly machined look. I like variety. That is why I own so many knives in the first place.
I can't really agree it is the best production folder made today, since I have not owned or have not used them "all". However I still feel that the Sebenza is better in overall construction, fit, feel and smoothness. However the ATR seems to be certainly a "better" made knife that all of my other folders (other than the Sebenza). I don't own a folding Strider, so I cannot make a comparison.
I also feel that the Sebenza is a bit more comfortable to hold, but the ATR seems to feel more "grippy" due to the less rounded edges of the handle and the holes in the handle. Handle comfort also has a lot to do with personal taste and how a knife is to be used. I will say that the ATR's handle is well designed to allow the user to grab the knife with no feeling of insecurity.
The cobra hood, combined with the Spyderco "hole" works very well. The cobra hood also looks like it is quite involved to manufacture. This "hood" allows you to quickly get a really firm grasp on the knife. My thumb naturally falls into place on the hood when gripping the handle. The finish of the hood is rough, but maybe this is to increase the texture and to allow a firm grip.
I fooled around with the ATR quite a bit last night. It is becoming much more smooth opening (although it never was very "rough"). The blade is almost perfectly centered now (but not quite).
The compression lock seems to be very very solid. It also appears to be designed to withstand lots of use and abuse without needing any adjustment. Time will tell. Actually, I don't even know if it can be adjusted.
Please note that my opinions are based on a very limited initial impression of the ATR. I presume other likes and dislikes will appear after I own and use this very cool knife over a long period of time.