I haven't had the chance to handle the S&W Magnesium handled knife you indicated, but I recently purchased 2 Smith & Wesson HRT folders, an FL2 and an HRT Fighter, both designed by Darrel Ralph.
FL2
HRT Fighter
Both knives are under $40.00 and are very well made for the price. These are actually the first Smith & Wesson knives I have ever owned and I like them very much. Both open smoothly and lock solidly with no blade wobble in any direction. They are also extremely sharp and carry well clipped to the pocket.
The FL2 is a frame lock and is very slim, yet big enough for large hands. The thumb disc on top of the blade is within good reach for easy opening. The all metal frame has cut-outs, but there is a large enough area for engraving your initials or logo.
The Fighter is my favorite as it fits my hand better and is a bit easier to open than the FL2. The skeletonized handle is made of aluminum and has steel liners as well. I usually don't care for bead blast finishes, but this knife has a nice matte finish which is actually quite attractive.
These knives appear to be made by the same factory that makes knives for CRKT, Timberline, Edge-Tech (Outdoor Edge) so the quality is consistent and I recommend them to anyone looking for good solid knife and an easy price.