For me, the clip is utility. I like 'em kinda small so they're not obtrusive for my work environment.
I like the idea behind the ZT301. Big o' massive folder. Itty, bitty unassuming, black clip.
Pic from TADGear.com
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I also have to say that I'm a little partial to this idea of a big honkin folder with the little tiny clip as well.