I'm a proud and privileged Seal 2000 owner, with a Kydex sheath. And I also have the older black nylon sheath which holds my Tech II.
The Kydex is for my needs 100% functional. The knife is held in the sheath with a certain amount of "squeeze" and there is 1 snap/strap for the handle. The "squeeze" will, I believe, hold the knife in the sheath for any of my not-too-arduous activities, and the snap/strap just adds that much more safety and security.
The nylon looks more "cool" than the Kydex, and it has a big bold "SOG Specialty Knives" banner in white letters on the front. And there are 2 small nylon snap/straps around the knife handle. The Seal 2000 fits quite nicely but is not "squeezed" like the Kydex. I will always use at least 1 of the snap/straps for this sheath.
---- The best feature I like and appreciate is tough to describe, but I like how the hang-over-the-belt strap comes completely apart, making it easy to then hang the sheath over the belt I use, which is a large-plastic-buckle heavy-duty workbelt.
---- I cannot do this with the Kydex sheath. It only has 2 snaps and because those snaps haven't held tight, I epoxied them shut forever. Now there isn't enough room to slide through the large plastic buckle of the heavy-duty workbelt, so I must use a leather belt.
So my preference ?? The older nylon sheath. But should I ever carry the knife in the water or some such harsh environment, I'll certainly use the Kydex.
Cheers,
Carl