I like mine. ATS-34 version. It mostly cuts air, but I've used it in the kitchen to cut up meats and vegetables, slice bagels, spread margarine and such. Works well and feels pretty good in the hand. I can't seem to get it really (read shaving) sharp using my 203 Sharpmaker, but it cuts very well and I don't need to sharpen it much. Yes, the sheath kinda blows, but I don't tote it around outside in my urban environment so I don't really care. I like the look of the knife much better since I've removed the BT2 coating with Scotchbrite-type pads. I'm thinking of learning how to do a proper hand-rubbed satin polish on it, but the SB finish is fine for a day-to-day user. I think I want an M2 Cub, but then I just bought a Chinook on Saturday and have been eyeing the new Fallkniven G1 dagger... Argh... Need more money.
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