Im a big slipjoint fan. If you ask me, the closest thing to a no-brainer in terms of fit and finish, is the Victorinox SAK. All other slipjoints are pretty much hit or miss in the production knife market, IMHO. I no longer buy slipjoints without handling them first, with the sole exceptions being Vic SAKs and A.G. Russell specials. The A.G. specials are a bit pricy, but worth every penny.
When it comes to factory sharpened edges, the only really consistent companies Ive had luck with are Victorinox and Buck. The other companies are very hit or miss.
As far as steel goes, the only quality production slipjoints I dont like are Case knives. Ive never gotten a Case with steel that I was happy with. All of the others are fine with me. When using a knife as small as a slipjoint, the usual 420HC, 400A and 1095 are fine with me. ATS-34, 154CM and D2 are an added bonus, but take a huge amount of work to put that initial edge on. Personally, if you want one of the higher grades of steel, A.G. Russell specials are the only way Id go. I have yet to get a Queen D2 with good enough walk and talk to consider usable.