I've got a few of the different laminated 'Sloyd' style knives by Frosts, the steel isn't stainless but hasn't rusted in my usage (woodworking and utility use around the shop) but I can say they sharpen well and REALLY hold an edge. I've also got a pair of the Swedish Army knives by Frosts as mentioned above. Ugly olive sheath that works like a charm, olive plastic handle, and sharp enough to shave...give me a strop and I can shave all week. It's just amazing how much knife you can get for $8 or so. To be fair, I ordered a few of the plastic handled carbon Mora knives from Erickson...also take a great edge, great little utility knives. I've got half my Christmas shopping done for the year. None of these are 'pretty' so just take your pick, choose a handle you can live with (or change) because the steel won't ever give you problems.
If the powers that be made cars like the Swedes make Mora knives, we'd all be driving 1946 Willis jeeps...supercharged $500 ugly jeeps with a top speed of 180 mph and getting 200 miles to a gallon of gas.