The SMF is pretty indisputably a better knife than the Emerson, but there's more to it than that when you're figuring out if it's worth the money.
I sometimes feel bad using a knife I spent so much money on. It often occurs to me that I could be accomplishing the same chore with a knife I spent less money on - such would also lead to less weeping in the event that the knife gets broken or lost. About half of the knives I own are in the $200-$400 range, and the rest are >$120.
I'm ashamed to admit that many of the cutting chores I perform on the job - cutting rope, duct tape, cardboard, envelopes, etc - are done with an Endura or a SOG Flash II. My Sebbie comes with me on camping trips, but most of the cutting work is done with a CRKT Razel that I got for eighty bucks.
I want the new Cold Steel Natchez Bowie, but I'll likely end up getting another SK-5 Laredo Bowie, just because I won't get hard feelings when I beat on it.
I fully acknowledge the Strider's superiority as a knife, considering not only materials and craftsmanship but also the consistency of quality control, the warranty, and other such factors. But it's not so cut-and-dry as to simply say that the SMF is invariably the better choice.