The Vapor II is my choice for an inexpensive everyday folder. The edge needs some work, as it was pretty obtuse for my taste, but I generally sharpen shallow enough to require thumb stud removal. YMMV. With a high polish edge, it holds an edge for a surprising amount of time. A very course edge will last longer, but on a more limited scope of work.
On another note, if you had not already received your knife, I was going to suggest making your own. If you have a file, a coping saw and a hacksaw, and something solid to clamp to, you can make a small fixed blade knife pretty easily, if you're not concerned with looks. 1095 carbon steel is pretty cheap, see Admiral Steel for more that you'll need to screw up twice and still have plenty left over. The only thing thats kinda tricky is a heat source to harden the blade. I've made a couple ~3" blades from 1095 and O1 steels and used a Mapp Gas torch for hardening. Of course this is not the optimal heat treatment, but for a first time try, it will work ok. For a one shot deal, tempering can be done in an oven at home. See the Shoptalk forum for instructions on heat treating, or scan the internet for other sources. Or you could spend a little more on steel and get an air hardening grade and send it out. The price goes beyond $40 pretty quickly doing that though, as some steels can be quite pricey. Anyway, the point is knives are pretty simple, as long as you arent too concerned with looks, and can experiment some.