Both are excellent, I've owned a couple variants of both, gave a couple to family, but favor the manix myself, with the XL being my favorite variety, there is a fair amount of overlap between the abilities of both. The PM2 is better for delicate work, picking splinters, trimming nails, cutting small, but important odds and ends. The sharp fine tip, smooth and comfortable oversized handles, smaller guard between the choils, high grippy thumb ramp, it all gives excellent blade control. The Manix2 has a broader blade with a much stronger tip, more texture from the jimped liners, large guard(and heel guard on the XL), your hand sits secure, deep in the grip to keep from slipping when piercing or cutting heavier material.
The only version of the Manix 2 I'm not a fan of is the standard sabre ground/solid liner model, too heavy for it's size on a knife that already takes a broad patch of pocket space, and IMO it loses some slicing ability to gain strength not really needed, I much prefer the FFG versions, replacing screws with rivets on the FRN lightweight version is another gripe, FFG G10 sprints are perfection IMO. I prefer the BB lock over the compression, it's more ambi(PM2 lock feels better lefty, when operated with a thumb IMO), and easier for me to work when flipping the blade open or closed, I pinch it with thumb and forefinger, then pull it back. The compression lock takes a bit more to get used to, and while I haven't deactivated it inadvertently, it does interrupt the smooth back profile of the knife, and gets bumped when pushing the knife hard where the BB lock's buttons stay out of the way on either side of the handle.
