My first Schatt & Morgan just arrived, it's a sowbelly, and it's a beauty. At first I was a bit disappointed, it seemed smaller than I thought it would be when I pulled it out of the box. Then after handling it for a bit- I pulled out the 2 blade Tidioute scout from my pocket. Well, I'll be hanged. They're dimensions are almost identical. Same height, length and thickness. The Scout is quite a bit heavier for some reason- I think because the blades are longer.
The Schatt & Morgan looks smaller than it actually is. It's weird. Overall, I'm very pleased. Fit and finish are in between Case and Great Eastern- much closer to Great Eastern, but not quite as good. Bone to bolster fit is perfect, the bone and blades are nicely done. The edges are all well ground, and shaving sharp. The main blade is perfectly centered, the coping and spey blades nest perfectly and do not touch. There is no blade wobble at all. The only things that aren't perfect are that the walk is spongy, the snap is so-so, and the exposed backs of the blades (at the hinges) are left too sharp. The tip of the main blade has a small imperfection in the edge grind that will be fixed the first time I sharpen it. Nothing a few minutes with oil, a diamond file and some 2000 grit sandpaper can't fix (which I usually do anyway). I think after a little bit of TLC, this baby will get some serious pocket time, because I really like the pattern, the feel and the look of the knife.
I think my expectations were a bit high- I have always heard that Schatt & Morgan has the best fit & finish in the industry. From what I have seen, this may no longer be the case. Don't get me wrong, they are very, very good. But Great Eastern is a bit better, for out of the box F&F. I will definitely be picking up some more S&Ms in the future, though!