Not surprising that everyone recommends the ZT 0801 and the Southard. They're the two best production flippers I know of. I think the Southard is just a little nicer with a little better quality and fit and finish. The 801 is also close to perfect, but it just doesn't get as close to custom "feel" as the Southard, IMO. I just think the Southard is a little more interesting and unique and just has the little "extra". Still, I'm almost as obsessed with the 801 right now as I was with the Southard when it came out. I'm STILL obsessed with the Southard, though, so that says something.
As far as flipping action, the 801 is great for that uninhibited flipping action that just flies open every time. It has a great detent and flips almost as good as any other knife I've owned. The Southard is up there too, and has a more comfortable flipper, though. They're both insanely fun to flip. The Southard has kind of a mix of bearings with "hydraulic" smoothness of a CRK, which I really like. Just different from the 801, but equally enjoyable. I can see why some people might say the 801 flips better, though. A non-knife person could flip the 801 open first try. It's crazy fast and uninhibited. But the Southard is almost more enjoyable in it's feel, to me.
Both great knives and I'm in love with both, but the Southard has a more special feel to it to me. Especially with the much lighter weight and MUCH better blade steel, I think it has an edge. But they're both made by two of my favorite knife designers and two of the best makers of all time. Both knives represent those two designers' styles well and my 801 is closer to the "custom" feel now that I've satin polished all of the hardware/clip/pivot/etc. I'm thinking about hand rubbing the blade to really make it like a real Rexford.
Speaking of blade steel, I haven't had the 801 long enough to know how the Elmax is on it, but if it's similar to the Elmax on other ZT offering, then it will be the biggest downfall of the 801. I didn't think the Elmax on the 551 and 560/561 were very good at all. Not terribly bad, but any better than S30V (in fact, worse than most S30V, in my experience). I think it's just a super hyped up steel because it has an identifiable name that sounds cool. But without a great heat treat, I don't think it's very special. Definitely nowhere near as good as the Southard's outstanding CTS-204P, which is a true "super steel", in my opinion. Oh, and the other minor downfall of the 801 in comparison is the sort of thick blade grind. It's a decent cutter, but the Southard has a very nice and lean edge for a production knife (especially for one with thick blade stock). The CTS-204P and that thin grind are definitely much preferable to the comparably thick grind and Elmax of the 801.
I don't mean to bash the 801, though, because I think it will become one of my favorite production knives and it is truly outstanding. The best regular production knife ZT has done by far. I'm falling in love with the thing quickly and I highly recommend it. But we're comparing it to my favorite production knife of all time.