Well, you're mostly talking fighting knives and defensive use of knives. My earliest Randalls have the sharpened clip point. At that time, I didn't even know they were often illegal to carry. But, we learn. I would just buy a new knife with the sharpened "false edge" and keep the ESEE as is.
Pros: They cut better/faster or are more effective in a fighting situation, especially for stabbing. Cons: If you aren't used to the portion of the edge being sharpened, it can lead to accidents. Also, the fact that you're carrying such a knife is an indication of your purpose. Law enforcement make judgements on behavior based on situational reveals in addition to what you might actually do with a potential weapon.