Deciding what knife you want is a very personal decision, so I totally respect your decision in this matter. However, let me explain the appeal of this knife to me.
I've been thinking that for $300, there are very few knives I'd rather get than the Pack River! Your mileage may vary of course, I'm speaking only for myself.
For myself, I've found the Calypso Jr. indispensible. It outcuts just about everything. My fantasy knife would be a knife that cuts like the Calypso Jr., but with a bigger blade that holds an edge better, with better ergonomics, and overall can stand up to harder work. Doesn't have to stand up to super-hard use, but harder use than what the Calypso Jr. can take. The Pack River is it!
Keep in mind, shootist, that very few custom knives at any price will match the cutting ability of a Calypso Jr., in the light-cutting arena that the Calypso Jr. excels at. There are some good reasons for that: for all those $$, people don't want a thin delicate blade. But like the Sebenza, the Pack River is an expensive knife that doesn't just promise better fit & finish, but great performance in cutting, strength, edge-holding, etc. And I *think* Steve still does some work on the Pack Rivers, though I might be wrong about that. I don't expect the Pack River's backlock to compete strength-wise with the Sebenza's integral lock, but the 440V flat-ground blade provides other interesting advantages.
Anyway, just wanted to rant a little more about the Pack River. It's what I think a high-$$ knife should be all about. Superior aesthetics, ergonomics, performance, edge-holding, etc. There's something to be said for the really strong thicker-edged do-anything folders, but excellent performance in the light- to medium-hard-use area is what I typically desire for my everyday carry knife.
Joe
jat@cup.hp.com