First of all, I have to say that I love my Native III. I've been carrying it every day for about a year now, and it's a great companion. It's not perfect, but it would only take two things to get very close:
1) My main gripe with the knife is it's size: it's too small! I'm not huge (6' 4", 215 lbs), but I'm big enough that the knife just feels too small in my hand. I think the construction, lines, ergonomics and feel are great -- just not big enough. So make one with a 3.75" or 4" blade!
2)I MUCH prefer flat ground blades to hollow. My Ontario Knives RAT7 D2 will slice through apples and other fruit better than my Native III, because the hollow grind makes it wedge. So give it a flat grind, and we're golden!
Because of these niggling problems (and because, yeah, I like to get new knives) I'll be purchasing a Manix soon, and most likely start carrying that. I don't like the look as much, and don't like the idea of spending $100, but I hear it's a great knife, so I'm sure it'll be worth it.
Sal, if you're still interested in revamping the Native III, make it bigger, give it a flat ground blade, and you've definitely got an order coming from me!
Thanks for such great knives.