I think Sifu1A nailed it. When the average knut mentions a tanto, I believe that he is referring to a chisel grind with straight edges, like the CQC7. I showed one to a Japanese woman I worked with at the Vets' Hospital and she considered it more of a hochu or a vegetable knife. As I became of a knut myself, I saw that traditional Japanese tantos had more of a rounded tip.
However, an 'American tanto' is a legitimate design. Like all well defined things, sports cars, off-road bikes, hiking shoes, etc., there are things these implements do well, and there are things that just cannot be accomplished. I carried my first Benchmade 970SBT as an EDC for almost 18 months, and for much of the time I had to use it for everything, as it was my only high end knife. I didn't like the way it opened envelopes, but it DID open envelopes. My next tanto was a Microtech USSOCOM combo. A double bevel, it cut better, and sure sharpened easier.
Right now I'm phutzing with a 970ST. I didn't think it came out very sharp. I did try to carefully knock off the burr when polishing. After a week of opening boxes and other minor chores (the knife sits out in the open on an end table so my wife can grab it quickly) I think the edge is getting sharper. Could be that use has taken better care of removing the burr than I did. I've heard outhers make the same claim.
Knife collecting is a great hobby. Buy what you enjoy, but speak your mind. Like I've said, the 'American tanto' is not my cup of tea, but it is my best friend's favorite knife.