I just had the passaround Ocelot and the passaround Manix. The Manix seems MUCH bigger than the Ocelot, but the thickness wasn't that dissimilar.
I want to handle a mini Manix now, but here's my breakdown on the full Manix versus the Ocelot.
I love the Manix, but it is almost certainly more folder than anyone actually needs. It's damn near a fixed blade replacement. The blade is SO wide, the grip so hand filling, it puts me mind more of a survival tool than a pocket knife. It immediately and completely outclassed my Chinook I.
More knife than almost anyone needs is no reason not to want one, of course.
OK, as I said, I haven't handled a mini-Manix, and I haven't handled a ParaMillie either. That said, the Ocelot just may be the king of the hill in the slightly over 3" blade folder category. Decent ergos (that's individual, of course), great cutter, useful but tough point, very pocketable for its weight, and
insanely overbuilt for its size. The Ocelot is, for my money, every bit as solid as the Manix, just not quite as big. It's hard to think of any job that would even vaguely fall into the "I can do that with a folder" task list that the Ocelot couldn't handle. The closest knife that immediately comes to mind is the BM 720, but the Ocelot fits my hand better.
So to me it's a question of what you want. If you're looking for a "Holy crap that's a big knife!" folder, the Manix scratches that itch. If you want a folder that doesn't take up 75% of your pocket and is within a hair of being just as tough and capable, the Ocelot will make you very happy.