I'll agree that the Contego seems perfect spec-wise and in pictures. I mean, big CPM-M4 reverse tanto blade, Axis lock, lots-o-jimping, crazy grippy G10, drilled out liners, deep carry clip. Seriously, what else could you really hope for at that price?
I won't say that the Contego doesn't live up to the expectations, but it just doesn't have the super solid feel that I get from some of my other knives (albeit, those are higher end knives). For instance, my Microtech Socom Delta feels tighter and more solid than the Contego but I also paid more than two times what I paid for my Contego. That being said, I think the Contego fits the bill very well for a knife at that particular price point. Something that I should note, however, is that my Contego came to me with a severely off-center blade (check the Benchmade subforum for pics). It's annoying to have to send a knife back but Benchmade is a high production company and is very helpful when it comes to their warranty (granted, I haven't gotten my Contego back yet).
All in all, I think it would make a good EDC knife or even work well for a light weight Mil/LEO duty knife. The extreme grip of the G10, aggressive jimping, and large choil almost suggest that it was designed for use with gloved hands. In fact, I'll probably bring it with me once I get deployed although I'm a bit weary of how corrosion resistant it will be. I don't think you can go wrong with the Contego, just be ready to have the pockets on your pants torn up by the G10.