PM2 hands down.
PM2 gives you: G10, Comp lock (which I feel is more reliable than the axis), full length liners, S30V, all at $120~
Grip gives you: Cheap feeling grivory handles, partial liners, 154cm at $100~ Upgrades in steel are going to cost you. Best deal is the Doug Ritter Griptilian with M390 at $140. Even with the M390 blade, you are still getting a very mediocre knife with questionable quality control. Their warranty department is good, but you shouldn't have to send a brand new knife in for warranty work. To quote a member here, mqqn "If you make it right, you won't have to 'make it right.'"
I've owned four BM folders and a fixed blade. All but one of the folders had issues, a Cabela's exclusive orange mini-barrage which I purchased in store and could personally inspect. It was a gift for my father in law. I own no Benchmades now, and will not until the prices become reasonable and the QC improves.