Three (ok, 3.5) things I did not like about mine:
1. Back end of handle is pointy as heck. Just like a custom Viele I owned, the tip of the handle ends in a point, and it's stabby. The handle edges are not radiused, just sharp unbroken 90 degree edges, and both the Ti handle sides and the micarta terminate into a the pointy shape.
This was a problem everytime my hand happened to brush up against the exposed butt end of the knife clipped into my pocket (it is afterall tip-up..) and then:
2. The ball bearing lock is very nice and effective, but it's a two-hands-to-close affair. As such, my natural tendency was to bring the knife up into my right hand, handle end pressed into my palm to help secure the knife while my fingers right fingers pulled back the lock and left hand closed the blade. Ouch. The point of the handle and sharp edges of the Ti slabs are quite uncomfortable. Were I able to operate the ball lock with one hand to release, maybe this would not have been an issue...not sure.
3. Lack of jimping on top of blade or foward-most part of handle. Just a pet peeve of mine, seems like a missed opportunity for additional nice (and functional) detail.
3.5. Knife showed up in little protective bubble baggie, but had copious amounts of scuffs and scratches on the exposed satin finish Ti. Honestly, it looked well used. Obviously eventually unavoidable if used daily, but kind of disappointing on a brand new knife. I bought a red box Benchmade Ti Pika once, and that thing was nowhere near the same league as the Phoenix...had the same kind of scuffs and scratches when it showed up. Sort of a bummer, albeit admittedly rare for Spyderco.
So I dunno. Were I to find out that mine was just an early fluke, I'd buy another, but that pointy handle is a deal-breaker for me as it stands. Maybe I could get a good customizer to smooth out the tail a bit, but even then I'm not sure that I like having to use two hands to close this one. (It is is a solid lock, that's for sure. Pretty impressed by that.)