I've had my PE II for around 9 years now. It's a good blade and the lockup is solid. It's not the most Utilitarian design but it will work. It's more of a Self Defense/combat styled blade. The Spec-Elite II is a bit more Utilitarian in design.
Used to use the PE II A bunch the first few years that I had it. Used it to cut cordage, make meals and the like. It never let me down. These days, it's my take to the City knife. Though I do occasionally carry it for fun. I live in a small rural area, unless I'm going into a government building, I can carry a fixed blade, so I normally do.