Reading back through the thread, I'm seeing a "custom" Ocelot with G-10 and BG-42 for
$350 at the above web site, and reading of a true Spyderco production model with FRN and either VG-10, BG42, or S60V. BTW, I believe the "custom" Ocelot is a misnomer, since I don't think anyone at Blade-Tech grinds knife blades or shapes handles; more like limited edition production run of CNC milled/lasered parts. While the Ocelot is neat as heck, I look one below it at the above site and see a true custom by Boguszewski for $50
less. Hmmmm..... For the cost of the limited edition Ocelot you can get a large Sebenza.
Now I'll admit I'm totally taken in by the thought of a production Ocelot with BG-42 or VG-10 blade, until I see FRN. That gives me pause. I guess it depends on other things when you talk FRN, such as the lock, what the steel turns out to be, etc.... But as much as I like the limited edition run, for that much money I would get the Sebenza. Or a
couple of Spyderco Lums.
"One Lum or Two?" 
Make mine
2 Lums.

But that's just me, whining because I can't afford the limited edition Ocelot with green G10 and BG42. You know, sour grapes and all that. It looks like Spyderco already
has produced both versions a couple of you mention. A high end for the snobs (very high end), and the standard for the rest.