Well, thanks in part to Brother Deacon, I bought a CF Stretch 2.
I like this knife. This is one application where carbon fiber seems to make sense. With the Gayle Bradley, the CF is bulky and slick. Yeah, it fills the hand, but slickish is not groovy, especially in a "hard use" knife. I like my Gayle Bradley, but the carbon fiber seems not only unncessary, but less than optimal when G10 or FRN would be more grippy.
On the Stretch 2, however, carbon fiber makes sense. First, Spyderco is using the peel-ply flavor, which is textured and as grippy as G-10. Grippy is good. Second, and as Brother Deacon noted, the carbon fiber Stretch is thinner than the FRN version. This is also a very good thing. The CF and other construction of the CF Stretch also make for knife which feels substantially more sturdy than the FRN Stretch. The punchline is that the CF on the Stretch is good because it is grippy, thin and still feels substantial. I like it. Add the ZDP steel, and this is a sweet piece of knife.