The quality of the Smith and Wesson knives I own or have handled (and which are, I believe, manufactored by Taylor Cutlery) have been middle-of-the-road to mediocre. I don't think they're a rip off, really, but I'm also prejudiced. Due to Smith & Wesson's cave-in to Clinton's attempts to kill the 2nd Amendment, I will no longer purchase licensed Smith and Wesson products.
From a quality standpoint, you've got to watch out, too -- S&W will apparently allow its name to be slapped on just about anything. The S&W multitool I've seen advertised in the knife mags looks to be on the same quality level as those Chinese Leatherman fakes with the clunky plastic handle slabs.
Razor
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AKTI #A000845
And tomorrow when you wake up it will be worse.