I have just purchased the Rat II and have carried it for a few days now. I am impressed. I have had the Rat I for a while, and that was the same thing when I got it. Total value. I do love the grips, but as one of the previous posters mentioned, it's not the end of the world if they get broken or go missing. I too collect a lot of knives. You could get 3 Rat II's for the price of 1 mini grip, and they have different colors also.
It has a nice little flat ground blade that slices well. I will use this as my 'small knife' for now.
Tough decisions, but at the end of the day, it's hard to get buyers remorse when you don't break the bank.
Cheers