What are you using it for?
The Activator can be had in D2 and S30V. The Fallkniven is VG10.
My Thor was really sharp and a good slicer, so I'd assume the same of the WM.
But, BM has been improving the edge on their knives of late.
The BM, if I recall, is a bit slimmer. Actually, the design is quite the universal pocket sized small fixed blade. The WM had a more filling grip.
Me, I'd go S30V Activator for around $60-$70. The can be found.
I do like the leather WM sheath, though.